In 2025, the global gold demand exceeded 5,000 tons for the first time, with gold prices reaching new highs 53 times throughout the year

The World Gold Council today released the "Global Gold Demand Trends Q4 2025 and Full Year Report," indicating that global gold demand and gold prices have both set records. In 2025, total global gold demand (including over-the-counter transactions) surpassed 5,000 tons for the first time. Coupled with the strong trend of gold prices repeatedly breaking records throughout the year—53 new highs in total—the total value of global gold demand soared to an unprecedented $555 billion, a year-on-year increase of 45%.

Overall gold demand in 2025 grew: global gold ETF holdings increased by 801 tons, marking the second-highest annual increase in history; purchases of gold bars and coins accelerated, reaching a 12-year peak. In 2025, global central bank gold purchases reached 863 tons, hitting the upper limit of the expected range; the scale of gold purchases remains at historical highs, with a wide distribution among purchasing central banks, although the pace of central bank gold purchases has slowed compared to the past three years.

Against the backdrop of continuously breaking historical records in gold prices, gold jewelry demand declined in 2025, but the total value of global gold jewelry demand still grew by 18% year-on-year, reaching a record $172 billion, indicating that global consumer interest in gold jewelry has not waned. Benefiting from the sustained growth of applications related to artificial intelligence, demand for gold in technology remained stable in 2025.

Looking ahead to 2026, as geopolitical tensions continue to escalate, the World Gold Council expects that gold ETFs will continue to see strong inflows, and demand for gold bars and coins will remain robust, supported by ongoing significant gold purchases by global central banks. In an environment where gold prices remain high for the long term, jewelry demand is expected to remain under pressure.