Demand for gold soared in 2016, driven by concerns and uncertainty driven by politics, according to the World Gold Council's latest report.
Demand for gold increased by 2 percent, or 92.9 tonnes, to reach a three year high of 4,308.7 tonnes in 2016. It was also the second best year for ETF inflows on record, with 532 tonnes added, according to the latest Gold Demand Trends report from the council.
All this demand helped the gold price to rise by 25 percent by the end of September. Even though gold prices pared these gains in the fourth quarter after Donald Trump's conciliatory acceptance speech and the Federal Reserve's interest rate rise, gold still finished 2016 up 8 percent.