17. How much gold is used for jewelry?
Jewellery still has the largest market share in the global gold market, although the increasing popularity of Gold bars and gold coins are getting smaller and smaller. Figures from Thomson Reuters GFMS show that in 2005, about 93% of the total demand for gold was accounted for by jewellery, up from just 53% in 2014. Not only in relative terms, but also in absolute terms, less gold is used for jewellery than ten years ago. In 2005, the demand for jewellery was 2,722 tonnes, but in 2014 it had dropped to 2,213 tonnes. Ten years ago, it could be claimed that gold was almost exclusively used for making jewellery, but this is no longer the case. A much larger part of the gold is sold in the form of investment gold to savers and investors.
Source: Thomson Reuters Gold Survey 2015
