Gold Demand Peaks in Q3 2025 Amid Rising Prices

Gold demand reached a new high in the third quarter of 2025, with a 3% year‑over‑year increase in tonnes and a record $146 billion in value, reflecting strong investor activity and a steady climb in price levels.

Gold Demand Surges in Q3 2025

In Q3 2025, total gold demand, including over‑the‑counter purchases, climbed 3% year‑over‑year to 1,313t, the highest quarterly total in the data series. The value of demand leapt 44% to a record $146 billion, with year‑to‑date demand amounting to 3,717t and $384 billion in value, up 41%.

Investors Lead the Expansion

Investors dominated the demand lift, with ETF buying adding 222t and bar and coin demand staying above 300t for a fourth successive quarter at 316t. OTC investment contributed 55t in Q3, showcasing continued global interest from institutions and high‑net‑worth individuals.

Central Bank Purchases Stay Strong

Central banks bought 220t, a 28% rise in Q2. Year‑to‑date purchases total 634t, slightly below the 724t acquired during the first three quarters of 2024, indicating sustained but slowing buying momentum.

Jewellery and Technology Demand Trends

Jewellery consumption fell double‑digit year‑over‑year to 371t, the 6th consecutive decline, while its value rose 13% to $41 billion. Technology demand saw a modest 2% drop; AI‑driven demand countered tariffs and price spikes.

Read More: India’s Gold Demand Falls 16% to 209.4 Tonnes in Q3 2025 Despite ₹2,03,240 Crore Value Surge!

Price Landscape and Supply Context

The London Bullion Market Association spot price hit 13 new all‑time highs, rising 16% in Q3 to an average of $3,456.54/oz, up 40% year‑over‑year. Total supply rose 3% to 1,313t, with mine production up 2% at 977t and recycled gold at 344t.

Conclusion

Q3 2025 saw gold demand reach record levels, driven by robust investor buying, steady central bank activity, and a sharp rise in spot prices. Despite a decline in jewellery volumes, the overall market value surged, signalling continued strength in the gold sector.

Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in securities are subject to market risks. Read all related documents carefully before investing.