Posted by Last year, Malaysia had the 8th biggest gold demand in the world.
Gold demand in Malaysia went up by 25%, from 14.9 tonnes in 2021 to 18.5 tonnes in 2022.
In the appropriate chart, Forex Suggest says that Malaysia comes after Turkey, Russia, Singapore, the United Arab Emirates (UAE), Vietnam, Iran, and Egypt.
Egypt was at the top of the list for the biggest increase in demand last year, with a 55% rise from 34.1 tonnes in 2021 to 52.7 tonnes.
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Aside from that, Malaysia also came in 7th on a list of countries that wanted the most gold bars and coins.
The report says Malaysia’s need for them jumped from 4.4 tonnes in 2021 to 5.8 tonnes last year.
With a 27% rise in demand from one year to the next, Malaysia fell behind Vietnam, Singapore, Turkey, Iran, Russia, and Egypt on a demand chart for gold bars and coins.
Egypt was in 1st place in that chart, with 19.2 tonnes of gold bars and coins. This was a big increase of 693%. Russia was in 2nd place, with 374%.
Malaysia got the 5th spot on the chart of demand for gold jewelry, with 24%, or 17.3 tonnes, of gold jewelry.
With a score of 8.93 out of 10, the United States (US) ranked 1st place as the country with the most gold.
With 8,133 tonnes, the US has the most gold in its central banks. Germany comes in second with 3,355 tonnes.
Regarding gold mining, China came in 1st with 330 tonnes of gold. Australia and Russia tied for second with 320 tonnes, followed by Canada (220 tonnes), the US (170 tonnes), Kazakhstan and Mexico (120 tonnes), and then South Africa (80 tonnes).
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Forex Suggest said that since the pandemic two years ago, the world gold market has come back in a big way.
According to the study, gold mining and investment are worth about US$13.2 trillion (RM59.98 trillion) on the market, which is good news for the top gold producers worldwide.
The study looked at the data from the World Gold Council on central bank gold reserves, consumer desire for jewelry, ETF holdings, and international per capita demand.
By looking into these findings, it will be possible to determine which countries have the most valuable gold reserves.
Forex Suggest said that many experts and users are looking for ways to protect themselves and their funds because they are worried about a possible recession and an uncertain economic future.
Since the world and business are always changing, you should look at your finances and investment plans.
Investing in gold is a good idea; it can help bring security in times of uncertainty. It’s a great chance to protect your money and diversify your trading portfolio.
SOURCE: NST
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