Gold demand rose 3 percent in the first quarter of 2024, according to data from the World Gold Council. Gold last week was at $2,450 an ounce, a record high supported by central banks that continue to buy, led by China, which in April bought gold for the 18th consecutive month. An ounce of gold has risen 14 percent since the beginning of the year.
As for silver, it is different given that demand for this metal fell 7 percent last year, but all expectations point to a rise of 3 percent this year. The gap between supply and demand for silver is 17 percent, meaning that demand is currently much stronger than supply.
Silver has risen 35 percent since the start of the year, hitting a historic high of $48 an ounce in 2011. It hit a 20-year low at the end of 2008 at $9 an ounce, up from $19 earlier.
Source (Al-Arabiya.net Website, Edited)
