By Will Horner
Demand for gold rose in 2021, lifted by rebounding jewelry demand and central bank buying, the World Gold Council said Friday.
Total demand for gold stood at 4,021 metric tons last year, supported by strong demand in the final quarter of the year.
Jewelry demand rebound to 2,124 tons, putting it on par with 2019's pre-pandemic levels. Central bank buying of gold also rose to 463 tons, an 82% increase on 2020.
Investor demand fell 43% to 1,007.1 tons. Gold-backed exchange-traded funds saw net outflows of 173 tons. Demand for bars and coins rose to an eight-year high, however, as retail investors sought safety from concerns over rising inflation.
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(END) Dow Jones Newswires