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 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.
For more information:
- USGS: Gold Statistics and Information
- World Gold Council: Investment Statistics
Tagged with: gold, jewelry, gold consumption
Follow No Dirty Gold