What was the recorded value of the overall global gold demand in 2021, according to the data released by the World Gold Council?

1)The World Gold Council (WGC) has reported in its 'Gold Demand Trends 2021' that the global demand for gold increased by 10% in 2021 to reach 4,021.3 tonnes. This is a significant increase compared to the 3,658.8 tonnes of gold demanded in 2020, which was impacted by Covid-19-related disruptions.

2)Central bank buying during the fourth quarter of 2021, recovery in jewellery consumption, mainly in India and China were the main drivers for the demand of gold. As per the report by World Gold Council, India's gold consumption surged to 797.3 tonnes in 2021, due to the recovery in consumer sentiments and pent-up demand following Covid-19-related disruptions. The report also suggests that the bullish trend is likely to continue in 2022.