The new report from the World Gold Council has revealed that for the year 2020, demand and supply for the yellow metal have fallen. This situation is due to the health crisis.

The price of gold rose past the $2,000 per ounce mark before returning to around $1,900 per ounce by year-end. However, the World Gold Council indicates that global demand reached its lowest quarterly total since the 2008 financial crisis last December, with only 783.4 t. The decline is estimated at 28% year-on-year.

In the same period when the price has continued to climb, supply and demand have followed the opposite path. Annual gold demand fell by 14% to 3,759.6 t. thus, the yellow metal was trading at $1,841 per ounce on major stock exchanges around the world, as of January 28, 2021.