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By various measures, demand for gold for jewelry is a major driver of mine production of gold.

Globally

According to data from Gold Fields Mineral Services (GFMS) and the World Gold Council, jewelry demand in 2011 represented:

  • the equivalent of 70% of global gold mine production
  • 48% of total global gold demand (including investment, e.g. gold coins)
  • 80% of global end-use demand (not including investment, e.g. technology, dentistry, etc.)

In the United States

According to the United States Geological Survey, jewelry manufacturing accounted for 54% of total U.S. gold demand.

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September 16, 2020
Latest News