Global Gold Demand

The recent uptick in gold prices in 2025 has been led by tariff threats by US president Donald Trump, which in turn have seen investors move away from equities to safer havens.

Spot gold prices rose by 27 per cent last year, the most since 2010, as investors chose the metal to hedge against global risks and as the US Federal Reserve slashed interest rates

Spot gold rose 0.1 per cent to $2,607.72 per ounce as of 1315 GMT, while US gold futures gained 0.1 per cent to $2,620.40

Goldman Sachs expects gold prices to reach $3,150 per ounce (bull-case scenario; base case: $3,000/oz) by December 2025, an upside of around 17 per cent from the current levels

Spot gold held its ground to stand at $2,734.79 an ounce at 0831 GMT, having hit a record high of $2,790.15 last Thursday

Gold - which set a record above $2,782 an ounce in Wednesday's trading - has registered gains every month this year, apart from a minor pullback in January, and in June, when prices were flat.

Total demand for gold, including opaque OTC trading, rose 5 per cent to 1,313 tons, a record for a third quarter, the WGC said

Spot gold fell 1.1 per cent to $2,615.50 per ounce by 12:19 p.m. ET (1619 GMT), falling for the fifth-straight session and moving further from the Sept. 26 record peak of $2,685.42

US yields and the US Dollar Index surged on no recession talks, which sent the yellow metal to $2547 in today's Asian session.

In dollar terms, gold prices hit $2,331/oz at the end of H1-CY24, according to WGC data, rising 12.1 per cent during this period

WGC defines gold ETFs as regulated securities that hold gold in physical form. These include open-ended funds traded on regulated exchanges and other regulated products like closed-end funds and MFs

After adding to its gold reserves for 18 consecutive months, official data from the People's Bank of China (PBOC) showed its holdings were unchanged in May

The metal was changing hands at $2381 at the time of the MCX closing, which is down 0.20 per cent from Wednesday's closing level

The RBI net demand totaled 290 tonnes in the March 2024 quarter, up 1 per cent as compared to 286.2 tonnes in the March 2023, strongest start to any year on record, World Gold Council (WGC) said.

China's official gold reserves, Wood said, have increased by 314 tonnes, or 16.1 per cent, from 1,948 tonnes at the end of October 2022 to 2,262 tonnes at the end of March 2024

Global gold demand declined 5 per cent to 4,448.4 tonnes in 2023, compared to the previous year, mainly due to continuing Exchange-Traded Fund (ETF) outflows, according to the World Gold Council (WGC) report. The overall global gold demand was 4,699 tonnes in 2022, according to WGC's Gold Demand Trends report 2023. According to the report, global gold ETFs saw a third consecutive annual outflow, losing 244.4 tonnes compared to 109.5 tonnes in 2022. Losses were most marked in Europe, where holdings fell by 180 tonnes - the worst annual performance since 2013. The pace of outflows slowed markedly into year-end, but October's hefty outflows dominated the fourth quarter (October-December), it added. Outflows from European funds have continued in the opening weeks of 2024, and North American-listed funds have resumed their decline after a two-month respite in November and December, the report said. Strong equity performance and continually shifting expectations surrounding the timing

Demand shot to an 11-year high in 2022 thanks to the biggest central bank on record. Gold prices, meanwhile, are near record highs above $2,000 an ounce

Global gold demand grew 18 per cent annually to touch 4,741 tonnes in 2022, the highest since 2011, mainly driven by strong quarter four (October-December) demand and hefty central bank-buying, the World Gold Council (WGC) said in a report on Tuesday. The total demand during 2021 was 4,012.8 tonnes, according to WGC's annual 'Gold Demand Trends' report. Annual central bank demand more than doubled to 1,136 tonnes in 2022, up from 450 tonnes in the previous year and to a new 55-year high. Purchases in the fourth quarter last year alone reached 417 tonnes, bringing the total for the second half of 2022 to more than 800 tonnes, the report stated. Investment demand (excluding over the counter) in 2022 was up 10 per cent against the previous year, mainly due to a notable slowdown in exchange-traded fund (ETF) outflows and strong gold bar and coin demand. Gold bars and coins continued to hold favour with investors in several countries, which helped to offset weakness in China. Total ..

According to the WGC 'Gold Demand Trends Q1 2022' report, global gold demand surged to 1,234 tonnes during the January-March quarter supported by strong demand for electronic traded funds (ETFs)

Spot gold was steady at $1,895.43 per ounce by 0731 GMT, after scaling to its highest since June 1 at $1,913.89 per ounce in volatile trade on Tuesday. U.S. gold futures GCv1 shed 0.4% to $1,899.70