The global gold demand edged down by 5% year on year to 4,449 metric tons, the World Gold Council (WGC) says in its report, Paralel.Az reports citing TASS.

In the fourth quarter of the last year, the gold demand plunged by 12% annually to 1,150 metric tons.

According to the WGC report, global gold production had an uptick by 1% to 3,644 metric tons.

The demand of central banks continued growing steadily, WGC said. Central banks of the world purchased 1,037 metric tons of gold, down 4% in annual terms. Annual jewelry items consumption remained stable in 2023 at the level of 2,093 metric tons, despite high gold prices.