World Gold Council – Gold Demand Trends, Q2 2025

The main theme of the report is the analysis of global gold demand in the second quarter of 2025.

Key findings include a 3% year-on-year increase in total gold demand to 1,249 tonnes. In value terms, gold demand rose by 45% year-on-year, reaching a record $132 billion. Global gold ETFs significantly contributed to the demand growth due to uncertain global trade policies, geopolitical instability, and rising gold prices. Bar and coin investors also increased their activity, attracted by rising prices and the safe-haven properties of gold. Central banks added 166 tonnes to global official gold reserves. Jewelry demand in volumes decreased, but spending on it increased. Gold usage in technology faced pressure from potential US tariffs, although demand for AI-related applications remains strong.