Gold demand hit record high in third quarter and will ‘remain strong’, report says



Global gold demand hit a record high in the third quarter of 2025, the World Gold Council said in a new report, adding that it remained upbeat about the outlook for the precious metal.

The findings came amid a recent pullback in gold prices after a months-long rally that had sent it to record highs.

Gold demand reached 1,313 tonnes – or about US$146 billion in value terms – between July and September, the highest quarterly total on record, according to the report released by the trade association on Thursday.

The report attributed the rise primarily to surging investment demand driven by “a powerful combination of an uncertain and volatile geopolitical environment, US dollar weakness and investor FOMO [fear of missing out] as the price climbed higher”.

That led total gold demand to soar 44 per cent in value terms from the same period last year in the third quarter, while demand rose by a modest 3 per cent year on year in volume terms, the report said.

“With the record high level of gold demand and prices in the third quarter of 2025, we expect gold demand to remain strong,” said Fan Shaokai, head of Asia-Pacific (ex-China) and global head of central banks at the World Gold Council, in a press release issued on Thursday.

Fan added that the association expected central banks to “continue their buying streak” and that the metal would retain “its lustre as a resilient option for a growing pool of investors looking to diversify”.
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