France's annual gold consumption is around 20 tonnes The global gold market is multi-faceted: chemical properties for industrial uses, value in jewelry manufacture, importance as a form of investment and currency. It is a concentrated market, with high production costs and major players such as China, Australia and Russia. Africa is home to 40% of the world's gold reserves, and South Africa is the continent's leading producer. The COVID-19 pandemic has led to a significant drop in demand for gold. In France, activities are more focused on gold trading, recycling and processing, given the decline in domestic mining. The jewelry sector is the leading consumer of gold, followed by central banks and industry. The quantity of gold used in jewelry manufacture has fallen over several years from 12 tonnes to 5.8 tonnes, but demand for gold jewelry remains strong, and jewelry production is showing very strong growth. Rings account for the largest share of the French market, with 60-65% of Frenc
