Global gold demand declined 5 per cent to 4,448.4 tonnes in 2023, compared to the previous year, mainly due to continuing Exchange-Traded Fund (ETF) outflows, according to the World Gold Council (WGC) report. The overall global gold demand was 4,699 tonnes in 2022, according to WGC's Gold Demand Trends report 2023. According to the report, global gold ETFs saw a third consecutive annual outflow, losing 244.4 tonnes compared to 109.5 tonnes in 2022. Losses were most marked in Europe, where holdings fell by 180 tonnes - the worst annual performance since 2013. The pace of outflows slowed markedly into year-end, but October's hefty outflows dominated the fourth quarter (October-December), it added. Outflows from European funds have continued in the opening weeks of 2024, and North American-listed funds have resumed their decline after a two-month respite in November and December, the report said. Strong equity performance and continually shifting expectations surrounding the timing Read The Rest at :