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全球黄金需求，创新高
Di Yi Cai Jing·2025-10-30 07:03

Core Insights - The World Gold Council reported that global gold demand reached a record high of 1,313 tons in Q3 2025, with a total value of $146 billion [1] - Central banks accelerated gold purchases, totaling 220 tons in Q3, a 28% increase from Q2 and a 10% year-over-year rise [1] - China's retail gold investment and consumption demand was 152 tons in Q3 2025, a 7% year-over-year decline, but the monetary value surged by 29% to approximately $16.9 billion [1] - The outlook for the gold market remains optimistic due to a weakening dollar, expectations of interest rate cuts, and the risk of stagflation [1] Global Gold Demand - In Q3 2025, global gold demand reached 1,313 tons, marking the highest quarterly demand on record [1] - The total monetary value of this demand was $146 billion [1] Central Bank Purchases - Central banks net purchased 220 tons of gold in Q3 2025, which is a 28% increase from the previous quarter and a 10% increase year-over-year [1] - The total net gold purchases by central banks for the first three quarters of 2025 amounted to 634 tons, which, while lower than the exceptionally high levels of the past three years, remains significantly above the average levels prior to 2022 [1] China's Gold Market - China's retail gold investment and consumption demand reached 152 tons in Q3 2025, reflecting a 7% decline compared to the previous year [1] - However, the monetary value of this demand was approximately 1,204 billion RMB (around $16.9 billion), representing a 29% year-over-year increase and setting a record for Q3 [1] Market Outlook - The gold market outlook is optimistic, driven by a weakening dollar, general expectations of interest rate cuts, and the presence of stagflation risks, which may further support gold investment demand [1] - Gold prices have been consistently reaching new records this year, indicating potential for further upward movement in the current market environment [1] - Research indicates that the market is not yet saturated, and the strategic value of allocating to gold remains solid [1]