再次见证历史 黄金需求总值飙升至1320亿美元

Core Insights - Global gold demand is projected to increase by 3% year-on-year to 1249 tons in Q2 2025, with a significant value increase of 45% to reach $132 billion, setting a historical record [2] - Total gold supply in Q2 2025 is estimated to grow by 3% year-on-year, with gold mine production potentially reaching 909 tons, marking a historical high [2] Supply and Demand Overview - Gold supply in Q2 2025 is estimated at 901.5 tons, with gold mine production at 908.6 tons and recycled gold at 347.2 tons [3] - Gold demand in Q2 2025 is projected at 1,079 tons, with jewelry consumption at 341 tons and investment demand at 477.2 tons [3] Investment Trends - Strong demand for global gold ETFs has been a key driver of overall demand growth in Q2, despite a slowdown in central bank purchases [4] - The demand for gold bars and coins has also seen a significant increase, reaching the highest levels since 2013 in the first half of 2025 [4] Jewelry Market Dynamics - Jewelry demand has shown a divergence, with tonnage declining in most regions, reflecting a drop to levels reminiscent of the 2020 pandemic period, although the monetary value of jewelry consumption has generally increased [5] Gold Price Movements - Spot gold prices have risen over 26% this year, reaching a historical high of $3,500 per ounce in April, with current prices around $3,307.49 per ounce following the Federal Reserve's decision to maintain interest rates [6]