According to the latest "Gold demand trend report" released by the World Gold Council for the whole year and the fourth quarter of 2020, the annual global gold demand fell by 14% to 3759.6 tons in 2020. This is the first time since 2009 that annual gold demand has fallen below 4000 tonnes. Total annual demand for gold ornaments was 1411.6 tons, down 34% from 2019 and an all-time low.
The total gold supply for the year was 4633 tons, down 4 per cent from a year earlier and the biggest annual decline since 2013. The main reason for the decline in production is the interruption of mine production caused by the epidemic.
