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Informist, Thursday, Oct. 30, 2025

 

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--WGC: Global gold demand up 3% on year at 1,313 tonnes in Jul-Sept
--CONTEXT: World Gold Council releases Gold Demand Trends report for Jul-Sept
--WGC: Gold prices averaged $3,456.54/ounce in Jul-Sept, up 40% on year
--WGC: Gold demand of global central banks up 10% YoY at 219.9 tn in Jul-Sept
--WGC: Global gold demand from ETFs up 134% on year at 221.7 tn in Jul-Sept
--WGC: Global demand for gold jewellery in Jul-Sept down 19% YoY at 371.3 tn
--WGC: Global demand for gold bars, coins in Jul-Sept up 17% YoY at 315.5 tn
--WGC: Global investment demand for gold up 47% on YoY at 537.2 tn Jul-Sept
--WGC: Global gold supply in Jul-Sept at 1,313.1 tn vs 1,275.9 tn year ago

 

MUMBAI – Global demand for gold rose 3% on year to 1,313 tonnes in the September quarter, recording the highest ever quarterly demand, mainly because of a sharp jump in investment demand for the precious metal, the World Gold Council said in its Gold Demand Trends report released Thursday. However, surging gold prices resulted in a sharp drop in consumption of gold jewellery during the quarter.

 

"The stellar gold price rise during Q3 (Jul-Sept) was largely the result of an acceleration in investment demand across all formats – bars, coins and gold ETFs (exchange-traded funds)," according to the report. Total investment demand for gold surged 47% on year to 537.2 tonnes during the quarter, with demand for bars and coins rising 17% and ETFs registering a whopping 134% on-year growth. Demand for gold bars and coins in Jul-Sept was 315.5 tonnes and demand from gold ETFs was 221.7 tonnes.

 

Ongoing geopolitical turbulence and weakness in the dollar continued to fuel safe-haven flows into gold during the quarter, with added impetus from rising concerns over the independence of the US Federal Reserve and the US government shutdown. "And the surging price, in turn, attracted more investment flows, with investors spurred by FOMO (fear of missing out), clamouring to build gold positions and benefit from further gains," according to the report.

 

However, soaring prices were the primary reason for the slump in demand for gold jewellery across the globe, falling 19% on year to 371.3 tonnes in Jul-Sept. While the two market giants--India and China--saw a sequential rise in demand mostly because of seasonal trends, the year-on-year "picture was decidedly weak", the council said. In contrast, the value of jewellery consumption rose 13% on year to $41 billion during the quarter.

 

Gold prices hit 13 new all-time highs during the quarter with the average price of gold in the London bullion market rising 40% on year to $3,456.54 per ounce, according to the report. "Gold's climb towards US$4,000/oz in the third quarter underscores the strength and persistence of the factors that have been driving demand throughout the year," Louise Street, senior markets analyst at the World Gold Council, said. "Heightened geopolitical tensions, stubborn inflationary pressures and uncertainty around global trade policy have all fuelled appetite for safe-haven assets as investors look to build resilience in their portfolios," Street said.

 

Global central banks picked up the pace of purchasing gold in Jul-Sept after two consecutive quarters of a slowdown. They added 219.9 tonnes of the precious metal during the quarter, up 10% on year. While the substantial increase in the gold price this year was likely a limiting factor on the scale of purchases initially, the pick-up in demand in the September quarter is "evidence that central banks continue to add gold strategically, despite facing higher prices". The National Bank of Kazakhstan was the largest buyer of gold during the quarter, followed by the Central Bank of Brazil, the Central Bank of Turkey, and the Bank of Guatemala.

 

Meanwhile, global supply of gold rose 3% on year to a quarterly record of 1,313.1 tonnes in Jul-Sept, according to the report. Production from mines saw its typical seasonal growth during the quarter, rising 2% on year to 976.6 tonnes. The supply of recycled gold rose 6% on year to 344.4 tonnes.

 

"The outlook for gold remains optimistic, as continued US dollar weakness, lower interest rate expectations, and the threat of stagflation could further propel investment demand. Gold has set record after record this year, and the current environment suggests there could be more upside gains for gold. Our research indicates the market is not yet saturated, and the strategic case to hold gold remains firmly in place," Street said.  End

 

US$1 = INR 88.49

 

Reported by Ashutosh Pati

Edited by Ashish Shirke

 

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