| Jewelry Demand Drives Gold Mining By various measures, demand for gold for jewelry is a major driver of mine production of gold.
Globally
According to data from consultancy GFMS and the World Gold Council, demand for gold for jewelry in 2008 represented:
- 80% of all end-use gold demand (ie, non-investment gold demand: 2,186 tonnes out of 2,621)
- 60% of all gold demand (ie, investment and non-investment demand: 2,186 tonnes out of 3,805)
- the equivalent of 90% of mine production of gold (2,186 tonnes out of 2,415)
In the United States
According to the United States Geological Survey, demand for gold for jewelry in 2009 represented 70% of all end-use gold demand. |
