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Central banks

Central Banks Anchor Gold Demand in Q1 2025

"We’re Going to Go into Fort Knox and Make Sure the Gold is There” — President Trump
"We’re Going to Go into Fort Knox and Make Sure the Gold is There” — President Trump

Global gold demand rose 3% year-over-year in Q1 2025, driven by strong over-the-counter (OTC) activity.

Central banks added 290 tonnes to their reserves, underscoring continued demand for gold as a hedge against inflation and currency risk.

Investment demand was mixed: ETF outflows contrasted with solid bar and coin buying, especially in China and India.

The World Gold Council notes a widening gap between institutional and retail investor behavior.

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