黄金需求总值飙升至1320亿美元，创历史纪录

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 [1] - 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 [1] Supply and Demand Summary - Gold Supply: - Q2 2025 gold mine production is estimated at 909 tons, up from 896.2 tons in Q2 2024 [2] - Total gold supply for Q2 2025 is projected at 1,248.8 tons, compared to 1,210 tons in Q2 2024 [2] - Gold Demand: - Jewelry consumption in Q2 2025 is expected to be 341 tons, down from 395.6 tons in Q2 2024 [2] - Investment demand for gold bars and coins is projected at 306.8 tons, a decrease from 275.2 tons in Q2 2024 [2] - Central banks globally added 166 tons to their gold reserves in Q2 2025, despite a slowdown in purchasing pace [5] Market Dynamics - Strong demand for gold ETFs has been a key driver of overall demand growth in Q2 2025, supported by geopolitical uncertainties and rising gold prices [4] - The spot gold price has risen over 26% this year, reaching a peak of $3,500 per ounce in April, with current prices around $3,307.49 per ounce [5]