AAAU - Gold Demand Trends Full Year And Q4 2020

• The global gold market was ravaged by COVID-19 disruption throughout the year, while record high prices were a mixed blessing.
• Jewellery demand in 2020 dropped to its lowest annual level on record, decimated by the combination of the global pandemic - with its resultant market lockdowns - and record high gold prices at a time of economic slowdown.
• The wide-ranging challenges associated with the COVID-19 pandemic curbed technology demand through most of 2020, but the sector showed signs of recovery during Q4.
• Total supply fell 4% y-o-y in 2020; higher recycling slightly offset lower mine production and net de-hedging.

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