The largest demand industry by far is jewelry, which accounts for around 50% of gold demand. Another 40% comes from direct physical investment in gold, including that used to create coins, bullion, medals, and gold bars. (Bullion is a gold bar or coin stamped with the amount of gold it contains and the gold’s different purity.
It is different than numismatic coins, collectibles that trade based on demand for the specific type of coin rather than its gold content.)
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