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gold demand, wedding jewelry, 18k gold, 14k gold

Gold Demand: The Boost From Weddings

According to data from the World Gold Council, as of the first three quarters of 2021, the number of U.S. gold reserves reached more than 8,133 tons, accounting for 65.55% of its foreign exchange reserves and ranking first in the world. However, in terms of historical changes in U.S. gold reserves, official U.S. gold reserves have remained unchanged for 15 years since 2006.

 

gold demand, wedding jewelry, 18k gold, 14k gold, US gold needs

From the perspective of U.S. gold consumption demand(usdebtclock), the number of U.S. gold consumption shows fluctuating changes, floating around 150-200 tons overall.

 

Weddings are a major driver of gold jewellery demand in the US today. While wedding rings have been a part of Western European culture for centuries, the modern American tradition of the gold wedding band took off during the Second World War, when soldiers fighting overseas wore rings to remind them of their loved ones back home.

Gold resonates particularly well with those consumers looking to buy a piece that they feel is associated with tradition or reminds them of a special moment in their life. A key strength of gold for these consumers is that it keeps an inherent emotional and financial value over time and can be passed to the next generation.

 

2020-2021 U.S. gold consumption has picked up, with U.S. gold consumption reaching 187 tons in 2021, an increase of nearly 10% year-on-year. it is expected that as the epidemic gradually recovers and gets under control, and due to factors such as inflation, future U.S. gold consumption will continue to rise.

 

In general, at present, the United States is the world's largest gold reserves, gold its foreign exchange reserves of more than 65%, but its gold reserves have not changed for 16 years; from the U.S. gold supply and demand, the United States has nearly 8% of the world's gold resource reserves, but in the last decade or so the U.S. gold production shows a fluctuating downward trend, while the overall U.S. gold consumption remains at 150-200 tons per year Around 2020-2021, U.S. gold consumption has rebounded and is expected to continue to rise in the future.

PS:Did you ever use gold for your wedding jewelry?

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