Are people curious about where the gold mined globally ultimately ends up? According to detailed statistical data, the specific distribution of this gold is as follows: the investment sector (including forms such as gold bars, coins, and ETFs) accounts for 43%; the jewelry industry accounts for 33%; central bank reserves absorb 17%; and only 6% is applied in the technology industry.

Through these numbers, it is not difficult to see that the largest destination for gold is not the jewelry manufacturing we commonly see, but rather it is primarily incorporated into the investment market. If we classify jewelry and technology as actual application scenarios for gold, this portion only adds up to 39%. In fact, the vast majority of gold ultimately enters various investment channels or is deposited in the reserve vaults of central banks.

From this, we can draw a clear conclusion: there is no supply shortage issue with gold itself. This also explains why the fluctuations in gold prices are almost not directly related to the supply and demand balance at the physical level.