Malaysia’s ranking in 2022, according to the report from Forex Suggest:

Demand for Gold in 2022 (8th)

8th in the world with the highest demand for gold in 2022

1. Turkey (a 55 per cent surge involving 52.7 tonnes of gold, compared to 34.1 tonnes recorded in 2021)
2. Russia
3. Singapore
4. the United Arab Emirates (UAE)
5. Vietnam
6. Iran
7. Egypt
8. Malaysia (a 25 percent surge to 18.5 tonnes compared to 14.9 tonnes in 2021)

Demand for Gold Bars and Coins (7th)

7th among countries with the highest demand for gold bars and coins in the world

1. Vietnam
2. Singapore
3. Turkey
4. Iran
5. Russia (374 percent)
6. Egypt (a significant surge of 693 per cent to 19.2 tonnes of gold bars and coins)
7. Malaysia (27 percent increase in demand year-on-year, jumped to 5.8 tonnes in 2022, compared to 4.4 tonnes in 2021)

Demand for Gold Jewellery (5th)

5th in the chart of demand for gold jewellery (with 24 percent, involving 17.3 tonnes of gold jewellery)

Notes

The Forex Suggest report also stated that gold mining and investment currently account for an estimated US$13.2 trillion (RM59.98 trillion) in market value, which is good news for leading gold producers worldwide.

These are useful info related to Quantum Metal’s strategic move with Quantum Metal Recovery Inc. in the upstream gold mining and Quantum Metal Jewellery in the downstream of the gold industry.

News source: New Straits Times

https://www.nst.com.my/business/2023/07/934036/malaysia-ranks-8th-worlds-highest-demand-gold