Gold price: World gold demand surges in Q1 2024, hits record high amid central bank buying and OTC investment boom

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The World Gold Council's Q1 2024 Gold Demand Trends report reveals a 3% increase in global gold demand to 1,238 tonnes, driven by healthy investment from the OTC market and persistent central bank buying. Gold price hit a record quarterly average of US$2,070/oz. Central banks added 290 tonnes to official holdings, highlighting gold's importance in reserve portfolios.

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