Global gold demand rises to quarterly all-time high in Q3

ISTANBUL

The total global gold demand increased 3% year-on-year in the third quarter of this year, reaching the quarterly record high levels, according to the World Gold Council (WGC) on Thursday.

The demand, including over-the-counter (OTC) transactions, increased to 1,313 tons, reaching a value of $146 billion, WGC said in a statement.

The robust growth was driven by increased investment demand, which reached 537 tons in the third quarter, supported by geopolitical uncertainties and dollar weakness.

In the first nine months of the year, global gold demand was 1% higher, reaching 3,717 tons, equating to $384 billion in value, and rising 41% on an annual basis.

It noted that the central banks increased their gold purchases in the third quarter, totaling 220 tons of net gold, representing a 28% increase compared to the second quarter and a 10% increase compared to the same period last year.

In the first nine months of the year, central banks' net gold purchases reached 634 tons. While this figure falls short of the exceptionally high levels of the past three years, it was significantly higher than the pre-2022 period, it said.

On the other hand, global jewelry demand fell by 19% year-on-year in the third quarter.

"Technology demand was fractionally weaker compared with third quarter of 2024. Support from growing AI demand met with headwinds from US tariff policy and the surging gold price," it added.

ISTANBUL

The total global gold demand increased 3% year-on-year in the third quarter of this year, reaching the quarterly record high levels, according to the World Gold Council (WGC) on Thursday.

The demand, including over-the-counter (OTC) transactions, increased to 1,313 tons, reaching a value of $146 billion, WGC said in a statement.

The robust growth was driven by increased investment demand, which reached 537 tons in the third quarter, supported by geopolitical uncertainties and dollar weakness.

In the first nine months of the year, global gold demand was 1% higher, reaching 3,717 tons, equating to $384 billion in value, and rising 41% on an annual basis.

On the other hand, global jewelry demand fell by 19% year-on-year in the third quarter.

"Technology demand was fractionally weaker compared with third quarter of 2024. Support from growing AI demand met with headwinds from US tariff policy and the surging gold price," it added.