During the third quarter of this year, central banks around the world collectively purchased 220 tons of gold, spending a total of 41 billion US dollars on gold jewelry.

On the local time on the 30th, the World Gold Council released the "Global Gold Demand Trends Report for the Third Quarter of 2025". The total global gold demand in the third quarter of this year reached 1,313 tons, a year-on-year increase of 3%; the value of gold demand skyrocketed by 44% year-on-year to reach $146 billion, both of which set a historical record for a single quarter. By the end of the third quarter, the total gold demand had increased by 1% to 3,717 tons, with a value of $384 billion, an increase of 41% year-on-year. Investment demand is dominant. Global gold investment demand surged to 537 tons in the third quarter, a 47% year-on-year increase, accounting for 55% of net gold demand in the quarter. Among them, gold ETFs performed particularly well, with total global holdings increasing by 222 tons; physical gold investment was also hot, with demand for gold bars and coins exceeding 300 tons for the fourth consecutive quarter. International gold prices repeatedly hit new highs. The gold futures price on the New York Commodities Exchange rose from $3,307.7 per ounce at the end of June to $3,873.2 at the end of the third quarter, an increase of 17.1%. After entering October, the price of gold rose even more sharply, breaking through $4,000. On October 20, the gold futures price touched a historical high of $4,392 per ounce, highlighting the current market's enthusiasm for gold investment. The high price of gold has not stopped central banks around the world from buying gold. In the third quarter, the total net purchase of gold by global central banks reached 220 tons, an increase of 28% from the second quarter and a 10% increase year-on-year. Industry insiders say that intensifying geopolitical tensions, persistent inflation pressures, and uncertainty in global trade policies have all contributed to the increased demand for safe-haven assets by investors. The weakening of the US dollar, expectations of interest rate cuts by the Federal Reserve, and the existence of stagflation risks will further support future investment demand for gold.