随着中央银行加载，黄金需求达到了四年高-WGC

在2024年最后一个季度，当时特朗普赢得了美国大选，中央银行购买黄金的购买量增长了54％，达到333吨。

World Gold Council (WGC) data showed on Friday that total gold demand rose 1% in 2024 to the highest since 2022, driven by a surge in central bank buying and a recovery in investment, while jewellery consumption fell sharply.

世界黄金委员会（WGC）的数据显示，周五，由于中央银行购买的激增和投资回收率的驱动，2024年的黄金需求在2024年上涨了1％，而珠宝消费量急剧下降。

Central banks bought 1,044.6 tonnes of gold last year, down slightly from a record 1,136.2 tonnes in 2023, but still among the highest levels in decades, the WGC said in its Trends in Gold Demand report.

WGC在黄金需求报告中说，中央银行去年购买了1,044.6吨黄金，比2023年的创纪录的1,136.2吨略微下降，但数十年来仍然是最高水平之一。

In the final quarter of 2024, when Trump won the U.S. election, buying by central banks accelerated by 54% year on year to 333 tons, the WGC calculated, based on reported purchases and an estimate of unreported buying.

在2024年的最后一个季度，当特朗普赢得美国大选时，根据报告的购买和未报告购买的估计，WGC计算得出，中央银行的购买量增长了54％至333吨。

Overall investment demand for gold, including bars, coins and exchange-traded funds (ETFs), rose 25% to a four-year high of 1,180 tons, mainly because outflows from physically-backed gold ETFs dried up for the first time in four years.

黄金的总体投资需求，包括酒吧，硬币和交易所贸易资金（ETF），上升了25％，达到1,180吨的四年高点，主要是因为四年来第一次流出了物理支持的黄金ETF 。

Indicating a major shift in appetite for different products, investment demand for bars rose 10%, while coin buying fell 31%.

表明对不同产品的需求发生了重大变化，对酒吧的投资需求增长了10％，而购买硬币的投资需求下降了31％。

“In 2025, we expect central banks to remain in the driving seat and gold ETF investors to join the fray, especially if we see lower, albeit volatile interest rates,” WGC senior markets analyst Louise Street, said.

WGC高级市场分析师路易斯街说：“在2025年，我们预计中央银行将留在驾驶席位和黄金ETF投资者加入竞争中，尤其是当我们看到较低（尽管利率降低）时。”

“Geopolitical and macroeconomic uncertainty should be prevalent themes this year, supporting demand for gold as a store of wealth and hedge against risk.”

“今年的地缘政治和宏观经济不确定性应该是普遍的主题，支持对黄金的需求作为财富和对冲风险的存储。”

Total gold demand, excluding opaque OTC trading, rose 1% to 4,553.7 tons last year, the highest since 2022, the WGC said. It estimates that OTC demand fell 7% due to a slump in the final quarter of the year as profit-taking offset persistent demand from high-net-worth investors.

WGC表示，不超出不透明的OTC交易的总黄金需求，去年增长了1％至4,553.7吨，是2022年以来最高的。它估计，由于高净值投资者的盈利抵消持续需求，一年中最后一个季度下一个季度下降了7％。

Gold jewellery consumption, the biggest category of physical demand, fell 11% in 2024, while mine production was steady and recycling rose 15%.

黄金珠宝的消费量是最大的物理需求类别，在2024年下降了11％，而矿山的产量稳定，回收利用15％。

The WGC expects jewellery demand to remain under pressure and recycling to rise further this year due to high prices.

WGC预计，由于价格高，珠宝需求将保持压力和回收利用，今年将进一步上升。