Gold demand highest level in over a decade

LONDON: Gold demand struck its highest level since 2011 last year, boosted by soaring purchases from central banks and other investors seeking shelter from rocketing inflation, industry data showed Tuesday.

Demand for the precious metal, traditionally a haven investment in times of economic and geopolitical turmoil, rocketed almost a fifth to 4,740.7 tons in 2022 from the prior year, the World Gold Council (WGC) said.