Baku: Global gold demand reaches record high, APA-Economics reports citing the World Gold Council (WGC): Last year, global demand for gold reached a record of 4974.5 tons in 2024, which is a 1% increase compared to the previous year.

According to Azeri-Press News Agency, the figure recorded in 2023 was 4945.9 tons. The report indicates that in the fourth quarter of last year, global demand for gold was at 1297.4 tons, which is 1% more compared to the same period in 2023.

It is informed that in the fourth quarter of last year, the demand for gold in value terms accounted for USD 111 billion. At the end of last year, demand for gold reached USD 382 billion, marking its highest annual level in history.

It is noted that in 2024, the price of one troy ounce of gold increased by 23%, reaching USD 2386.