Central banks, another major source of gold demand, increased purchases by 10 per cent to 219.9 tonnes in the third quarter, the WGC estimated
China's gold reserves stood at 74.02 million fine troy ounces at the end of August, up from 73.96 million at the end of July
On the technical side, charts are crystal clear. Gold recently broke out of a bullish pole-and-flag pattern on the weekly time-frame, a setup that often precedes strong continuation rallies.
Gold outlook: Spot gold continues to find robust support from a confluence of macroeconomic factors, chief among them being the rapidly deteriorating fiscal landscape in major economies.
Gold trading strategy: In the near-term, safe haven demand is somewhat subdued due to US-China trade truce extension and hopes from the upcoming US-Russia meeting in Alaska.
Global gold demand increased 3 per cent year-on-year to 1,249 tonnes during the April-June quarter of the current year, amid a high price environment, World Gold Council (WGC) said in a report on Thursday. Strong gold investment flows largely fuelled quarterly growth, as an increasingly unpredictable geopolitical environment and price momentum sustained demand, according to WGC's Q2 2025 Gold Demand Trends report. "Gold ETF investment remained a key driver of total demand, with inflows of 170 tonnes over the quarter, compared with small outflows in Q2 2024. "Asian-listed funds were major contributors at 70 tonnes, keeping pace with US flows. Combined with record inflows in the first quarter, global gold ETF demand reached 397 tonnes, the highest first-half total since 2020," the report added. Meanwhile, the total bar and coin investment also increased 11 per cent year-on-year, adding 307 tonnes. Chinese investors led the way with a 44 per cent year-on-year increase to 115 tonnes,
Gold rose to a three-week high, boosted by safe-haven demand after US President Donald Trump threatened tariffs on the European Union and Mexico
Gold prices are likely to stagnate or even decline by 5 per cent to 10 per cent over the next year, as it potentially underperforms global equities
Gold rallied 19 per cent in the first quarter as it was up around 2 per cent last week-its fourth straight weekly gain.
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