China and India Account for Nearly Half of Global Gold Demand, Data Shows
China and India drive nearly 50% of global gold demand, providing structural support despite geopolitical pressures.Summary
Despite gold prices dropping nearly 10% due to rising oil prices and geopolitical tensions involving the US, Iran, and Israel, strong demand from emerging markets is stabilizing the market. Data from The Kobeissi Letter indicates that emerging economies have accounted for roughly 70% of global gold demand over the last decade.
China is the largest contributor, representing 27% of global demand, with the People's Bank of China extending its gold-buying streak to 17 consecutive months. India follows as the second-largest contributor at 21%, driven by massive household and temple holdings valued at trillions of dollars. While North America and Europe play smaller roles in long-term consumption, the significant structural demand from China and India provides a foundation for the gold market.
(Source：BeInCrypto)