Have you ever wondered where all the gold mined globally ultimately ends up? Many people might think that gold is primarily used to create various exquisite jewelry, but the reality may surprise you, as the largest share actually goes to the investment market.

From specific data, gold bars, coins, and ETFs account for 43% of the total, maintaining the top position. Following closely is the jewelry industry, which accounts for 33%. Additionally, central banks hold 17% of the gold, while the share used in technology is only 6%.

From another perspective, the proportion that truly reflects the actual use of gold in jewelry making and technology totals only 39%. This means that the vast majority of gold has actually entered the investment circulation field or been stored in the central banks' vaults. Based on this distribution structure, we can make one thing clear: there is no issue of insufficient gold supply. Correspondingly, fluctuations in gold prices are actually almost unrelated to the traditional concept of supply and demand balance.