LONDON, Jan 28 — Global gold demand soared in the fourth quarter of 2021 as inflation rocketed, helping to recoup much of the drop triggered by the pandemic, industry data showed today.
Overall last year, “demand recouped much of the Covid-related losses sustained during 2020”, the WGC said, adding that total physical purchases jumped 10 per cent to 4,021 tonnes. Looking ahead, it said expansion of 5G telecoms infrastructure should help support demand for gold in the sector. In India, “millions of people get married, and that involves a certain amount of gold”, WGC spokesman John Mulligan told AFP.“Inflation concerns were a key driver, especially in the US and Germany, which both saw record annual demand,” the report said.
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