Global demand for gold, excluding over-the-counter (OTC) transactions, amounted to 1.31 thousand tons in the first quarter of 2025, which is 16% higher than the result for the same period last year, according to the World Gold Council (WGC). Demand for jewelry fell to its lowest level since the COVID-19 pandemic in 2020 due to high prices. However, a sharp influx of gold into ETFs increased investment demand 2.7 times to 552 tons, the highest level since the first quarter of 2022. Demand for coins and bars also remains above average.
Gold production reached a record high for the first quarter of 856 tons. Overall, supply grew by 1% to 1,206 thousand tons. The market deficit was covered by OTC.
