SURGING GOLD ETFs FUEL Q1 DEMAND

The World Gold Council’s Q1 2025 Gold Demand Trends report reveals total quarterly gold demand (including OTC^[1]) was 1,206t, a 1% increase year-on-year, in a record high price environment, in which gold surpassed US$3,000/oz.

Second quarter gold demand hits record highs, supporting rising prices

The World Gold Council’s Q2 2024 Gold Demand Trends report reveals that total global gold demand increased 4% year-on-year to 1,258t, marking the strongest Q2 in our data series^[1]. Total demand was supported by healthy over-the-counter (OTC^[2]) transactions, up a notable 53% year-on-year at 329t. 

Increased OTC demand, continued buying from central banks, and a slowdown in ETF outflows drove record-high gold prices in Q2. The gold price averaged US$2,338/oz, 18% higher year-on-year, reaching a record of US$2,427/oz during the quarter.