Gold demand hit records as price soared

Gold Fever Record Demand as Price Soars Amid Geopolitical Unrest

As global conflicts and economic uncertainty persist, gold demand has reached a record high in the third quarter. According to the World Gold Council (WGC), total demand grew 3% year-on-year to 1,313 tonnes, the highest level since records began over 25 years ago.

The surge in buying, driven by both central banks and individual investors, coincided with gold's price reaching record highs this year. In fact, gold demand by value soared 44% year-on-year to a record $146 billion in the third quarter, as investors sought refuge from market volatility.

So, what's driving this unprecedented demand? Geopolitical unrest, trade conflicts, and economic uncertainty are all contributing factors, according to Louise Street, WGC analyst. Various regional conflicts, increasing rhetoric around trade conflicts... create an atmosphere of heightened uncertainty that boosts demand for gold as a safe haven investment.

The price of gold has since fallen from its all-time peak in October at $4,381.52 per ounce due to profit taking. However, analysts believe this represents a healthy correction that helps to wash out short-term speculative positioning, paving the way for further growth.

Let's take a closer look at the numbers

Total demand 1,313 tonnes (3% year-on-year growth)
Gold demand by value $146 billion (44% year-on-year growth)
Jewelry demand 419.2 tonnes (-23% year-on-year decline)

While some may view gold's recent retreat as a sign of weakness, we believe it presents an opportunity for savvy investors to get in on the action.

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Edward Lance Arellano Lorilla

CEO / Co-Founder

Enjoy the little things in life. For one day, you may look back and realize they were the big things. Many of life's failures are people who did not realize how close they were to success when they gave up.