World Gold Council said today that demand for gold retreated in the first quarter of 2023.

In its latest quarterly report on demand trends, he said that demand was 1081 tons in the first quarter of 2023, down 13 percent compared to the same period of last year. The report said that central banks bought 228 tons during the quarter, the largest Q1 purchase since the council started recording data back in 2000.

Half of the demand comes from jewelers, while the rest comes from investors and states.

Source: Qatar News Agency