Global gold demand in 2015 was flat at 4,212 tonnes compared to the previous year, according to the World Gold Council's Gold Demand Trends report.
The overall global demand during 2014 stood at 4,226 tonnes, the WGC report said.
It said despite a challenging start to the year, gold demand rebounded in the second half of 2015, as a result of sustained buying from central banks and a strong second half from China and India.
This was evident in the retail investment sector, where bar and coin purchases were led by China and Europe, with strong support from the US as investors took advantage of weaker prices amid a softening economic backdrop, financial turbulence and ongoing geopolitical tension, the report said.
"In a year that saw global economic and stock market turmoil, the first US interest rate rise in nine years and falling oil prices, demand for gold remained resilient, coming in at 4,212 tonnes for the full year.
Official sector purchases, combined with strength in the Asian markets and continuing momentum in the US and Europe, reinforced gold's credentials as a portfolio diversifier, a wealth preservation tool and a hedge against a range of risks," WGC Head of Market Intelligence Alistair Hewitt said.
Looking ahead, he said, physical demand will continue to be supported by strong central bank purchases and continued buying of jewellery, bars and coins by households across the world, led by India and China.
"If we just look at the year to date, the investment case for gold is as strong as ever. While stock markets have wobbled, gold has performed well," he added.
The report further revealed that global investment demand for the full year 2015 grew by 8 per cent to 878 tonnes from 815 tonnes in 2014. Bars and coins demand remained steady in 2015, as investors took advantage of a weaker price in the third quarter, it said.
The Electronic Traded Fund (ETF) market saw a slowdown in outflows, 133 tonnes in 2015, compared to 185 tonnes in 2014.
