Global gold demand reached a historic high of 5,002 tons in 2025, with investment demand serving as the core driver.

The World Gold Council's "Global Gold Demand Trends Report" for the full year of 2025 reveals that global gold demand reached a record high of 5,002 tonnes, with the fourth quarter setting another record and concluding the year with an outstanding performance for the global gold market. Driven by persistent geopolitical and economic uncertainties, global gold investment demand surged significantly, pushing the total value of annual gold demand to $555 billion. Investment demand emerged as the core driver behind the historic peak in global gold demand in 2025, with annual global gold investment demand climbing to a milestone level of 2,175 tonnes. Globally, investors flocked to gold ETFs in search of asset hedging and diversification, resulting in a net increase of 801 tonnes in gold ETF holdings in 2025. Physical gold investment demand also remained robust, with global demand for gold bars and coins reaching 1,374 tonnes, valued at approximately $154 billion. Notably, China and India stood out, with demand for gold bars and coins growing by 28% and 17% year-on-year, respectively, together accounting for over 50% of global demand in this segment.