Global investment demand for gold surged sharply in 2025, driven by economic uncertainty, U.S. tariff policies, and rising geopolitical risks, according to data from the World Gold Council. Investment demand rose 84 percent to 2,175 metric tons, equal to about 60 percent of global gold mining output.
Gold prices reflected the surge. Spot prices in London averaged $3,431 per ounce, up 44 percent from 2024 and a record high.
Gold sees investment demand grow 80%, hitting 60% of mining output https://t.co/nhMUFpqzzM
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Total gold demand increased modestly by 1 percent to just over 5,000 tons, but its value jumped 45 percent to $555 billion.
Exchange-traded funds backed by physical gold saw strong inflows after losses the previous year, led by North America and Asia.
Demand for bars and coins also climbed, especially in China. Jewelry demand fell sharply, while central bank purchases slowed but remained historically elevated.
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