Gold Demand Trends in 2025 Record Unprecedented Growth Amid Soaring Prices
The World Gold Council’s report shows that 2025 was a big year for gold. The year saw high volumes, rising prices, and strong investor pull. Gold stays a safe asset and a spread tool during tough times.
Surpassing 5,000 Tonnes: Historic Demand Volumes
Global demand topped 5,000 tonnes in 2025. OTC trades and all major sectors added to this rise. Gold prices hit record levels on 53 days. The market reached a value of US$555 billion—a 45% jump from 2024. Investment Activity Drives Growth
Investors drove up demand. Gold ETFs gained 801 tonnes, a strong year. Buyers also picked up gold bars and coins at a 12-year peak. The push for safe assets, spread in portfolios, and price rise kept investors active.
Central Banks Remain Key Players Amid Slowed Buying
Central banks bought 863 tonnes of gold. Their buying stayed high, though the pace dropped compared to past years. Banks hold gold as a reserve amid global risks and economic stress.
Jewellery Sector: Value Up, Volume Down
Jewellery makers saw a drop in gold volume by 18-19% from 2024. Yet, the sector’s value grew by 18%, reaching US$172 billion. High prices slowed volume but did not stop buying overall.
Technology Demand Stable Amid Sector Disruption
Use of gold in technology stayed near last year’s level. AI-related growth helped balance falls in other industrial uses. Total demand in tech fell by only 1%, which shows gold’s steady use.
Supply Side: Slight Growth in Mining and Recycling
Total gold available rose by 1% to 5,002 tonnes. Mine output hit a record 3,672 tonnes while recycled gold grew by 3% to 1,404 tonnes. Even with a 67% jump in price, recyclers held back their supply.
Fourth Quarter Highlights and Outlook
The final quarter saw the highest Q4 demand ever at 1,303 tonnes. ETF inflows added 175 tonnes and bar and coin buying hit 420 tonnes—a 12-year peak.
For 2026, the Council expects buy-ins of ETFs and bars/coins to stay strong amid global tension and more bank moves. Jewellery buying may stay low as high prices continue.
Key Figures at a Glance
- Annual Gold Demand: 5,002 tonnes (+1% year-on-year)
- Record Gold Price: Average price per ounce reached US$3,431 (+44% year-on-year)
- Global Gold Market Value: US$555 billion (+45%)
- Central Bank Purchases: 863 tonnes (slowed but high)
- Gold ETF Holdings Growth: 801 tonnes (second strongest year)
- Bar and Coin Buying: 1,374 tonnes (12-year high)
- Jewellery Demand Volume: Fell by 18-19%, yet value rose by 18%
Gold stays a favored asset. Investors, banks, and tech users all add to gold’s pull. Their actions show trust in gold during hard times. For more details and data, you can download the full report on the official website.
