U.S. Gold Demand Soars 58% in Q3 2025 Driven by Strong ETF Inflows: World Gold Council Report
Gold | 2025-11-06 10:55:18
According to the WGC report, overall gold jewellery and bar and coin demand totalled 32 tonnes, falling by 33% over the prior year quarter.
By Paul Ploumis
SEATTLE (Scrap Monster): The latest U.S. Gold Demand Trends Q3 2025 report released by the World Gold Council (WGC) reveals a significant surge in gold demand across the United States during the third quarter of 2025, primarily driven by strong investment inflows into gold-backed exchange-traded funds (ETFs).
According to the report, total U.S. gold demand jumped 58% year-over-year, reaching 186 tonnes in Q3 2025. This remarkable growth was largely attributed to a surge in investment demand, as U.S.-listed ETFs added 137 tonnes during the quarter, boosting total holdings to 1,922 tonnes. The report also highlighted that North American gold-backed ETFs recorded cumulative net inflows of US$37 billion through September, reflecting robust investor interest amid economic uncertainty.
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In contrast, the report noted a continued decline in physical gold consumption. Combined gold jewellery and bar and coin demand fell 33% year-over-year to 32 tonnes. Gold jewellery consumption slipped 12% to 25 tonnes, while bar and coin demand plunged 64% from a year earlier to just 7 tonnes.
Looking ahead, analysts expect gold prices to remain resilient, with projections suggesting the metal could hold around $4,000 per ounce by year-end. According to Bloomberg consensus forecasts, gold prices are likely to rise through the first half of 2026 before gradually easing toward the end of the year.
The WGC report underscores the shifting dynamics in U.S. gold demand, where investor-driven ETF inflows continue to outpace traditional consumption, signaling strong market confidence in gold as a strategic asset amid global economic volatility.
POLL
What do you think is the main reason behind the sharp rise in U.S. gold demand in Q3 2025?
Frequently Asked Questions
- What does the World Gold Council’s Q3 2025 report reveal about U.S. gold demand?
The World Gold Council (WGC) report shows that U.S. gold demand jumped 58% year-over-year in the third quarter of 2025, reaching 186 tonnes, primarily fueled by strong investment inflows into gold-backed exchange-traded funds (ETFs).
- How did gold-backed ETFs contribute to this growth?
U.S.-listed ETFs added 137 tonnes of gold during Q3 2025, bringing total holdings to 1,922 tonnes. North American gold-backed ETFs also recorded cumulative net inflows of US$37 billion through September, underscoring heightened investor confidence in gold.
- What was the trend in physical gold demand?
Physical demand weakened considerably, with gold jewellery and bar and coin demand dropping 33% year-over-year to 32 tonnes. Jewellery consumption fell 12% to 25 tonnes, while bar and coin demand plunged 64% to just 7 tonnes.
