A new report by the World Gold Council shows that in 2023, the demand for gold hit new highs as a slowdown in China’s economy and geopolitical tensions drove investors to the precious metal. Last year, total gold transactions came to 4,899 tons, a slight increase from 2022’s figure of 4,741. In December 2023, the price of gold stood at $2,100 per ounce as retail investors and central banks increased their gold purchases.
The biggest drivers of the metal’s demand were the Israel-Hamas conflict, the Russia-Ukraine war and…
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