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.
The London-headquartered council said elevated risk perceptions continued to underpin investor appetite. "2025 saw surging demand for gold and rocketing prices. Consumers and investors alike bought and held gold in an environment where economic and geopolitical risks have become the new normal," said Louise Street, senior markets analyst at the council.
Global investment demand reached a landmark 2,175 tonnes in 2025, the council said, making it the main driver behind gold's record-breaking year. "Investors raced to access gold through all available routes," Street noted.
Despite rising prices, consumer demand remained relatively resilient. Jewellery consumption fell 18 percent year on year, even as gold prices climbed 67 percent, reflecting continued willingness among buyers to purchase at elevated levels, she said.
Central banks are also significant buyers, adding 863 tonnes of gold in 2025, near the upper end of the council's forecast range. Street said central banks remained firmly committed to bolstering reserves.
Looking ahead, she said that ongoing economic and geopolitical instability could continue to support demand in 2026, reinforcing gold's role as a safe-haven asset.
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