By Dorothy Neufeld, Graphics/Design: Sabrina Lam
Key Takeaways
The total above-ground stock of gold stands at 216,265 tonnes, with the largest share found in jewelry.
Below-ground stock is estimated to be 132,110 tonnes as of year-end 2024.
Today, gold prices sit roughly 40% above their previous inflation-adjusted peak seen in 1980.
Despite tumbling 54% from the October 20th high of $4,380, gold remains at historically elevated levels, as investors rely on the metal as a reliable store of value. In total, the world’s above-ground gold stock would fit into a cube approximately 22.3 meters tall (73 feet).
This graphic shows the global supply of gold as of year-end 2024, based on data from the World Gold Council.
Jewelry is the largest category of above-ground gold, at 97,149 tonnes.
Last year, India was the largest buyer of gold jewelry globally, with 560 tonnes in purchases. China ranked second, with 510 tonnes. Across the region, gold is deeply intertwined with major life events such as weddings and cultural traditions.
Bars, coins, and gold-backed ETFs make up 48,634 tonnes of gold, exceeding central bank holdings (37,755 tonnes) by a substantial margin. Overall, the U.S., Germany, and Italy held the most gold in their central bank reserves as of year-end 2024.
Meanwhile, industrial uses such as electronics and dentistry make up 32,727 tonnes. Many semiconductor chips, for instance, use gold for coating or bonding wires thanks to its conductivity.
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