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WGC: World gold supply surplus soars to 958 t in 2020

Source: Mysteel Feb 05, 2021
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ABSTRACT
The surplus of gold in the global market jumped to 957.8 tonnes during 2020, as against 419.6 tonnes in 2019, as demand for the precious metal was severely impacted by the COVID-19 pandemic and by the rise in gold prices, according to the latest data from the World Gold Council (WGC).
According to the WGC, world demand for gold dropped 16% on year to 3,675.4 tonnes for 2020, an 11-year low and the first time that annual demand has slipped below 4,000 tonnes since 2009. On the other hand, gold supply witnessed a much milder decline of only 4% on

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