Gold demand hits record high in 2025: World Gold Council

Global gold demand soared to a record high of 5,002 tonnes in 2025 amid continued geopolitical and economic uncertainties, the World Gold Council said in a report on Thursday.

These uncertainties propelled hefty investment in gold, lifting the total value to an unprecedented 555 billion U.S. dollars, up 45 percent from a year earlier, according to the council's annual gold demand trends report.

Meanwhile, investment demand for the precious metal surged by 84 percent to reach 2,175 tonnes, driven by geopolitical tensions and a search for safe-haven assets. This investor rush drove price of gold to a record high, surpassing 5,500 U.S. dollars per ounce at one point.

Demand for physical gold products like bars and coins also held firm, with global purchases totaling 1,374 tons, valued at 154 billion U.S. dollars.

Despite an 18 percent year-on-year decline in global demand for gold jewelry in 2025, driven by record-high gold prices, consumer spending in this category still grew by 18 percent to reach 172 billion U.S. dollars. This divergence underscores the lasting appeal of gold jewelry to consumers.

Looking ahead, the Council anticipates that robust demand will continue throughout 2026, supported by ongoing economic and political concerns.

The Organization of the Petroleum Exporting Countries (OPEC) lowered its forecast for global oil demand growth this year for the second month in a row, citing the prospects for weakening demand in non-OECD economies.

In its monthly oil market report released on Thursday, the Vienna-based oil group projected that global oil demand in 2026 will rise by 970,000 barrels per day from 2025 levels, down from the 1.17 million-barrel growth forecast in its May report and the 1.38 million forecast in April.