Chart Gallery

 

Chart 1: Gold demand buoyed by strong Q1 ETF inflows

Quarterly gold demand by sector in volume, tonnes, and value, US$bn

Chart 1: Gold demand is buoyed by strong Q1 ETF inflows

Chart 1: Gold demand is buoyed by strong Q1 ETF inflows
Quarterly gold demand by sector in volume, tonnes, and value, US$bn*
*Data to 31 March 2025. Source: ICE Benchmark Administration, Metals Focus, World Gold Council

Sources: ICE Benchmark Administration, Metals Focus, World Gold Council; Disclaimer

*Data to 31 March 2025.

 

Chart 2:

GDT Q1 2025: Outlook Chart 1

*Data to 31 March 2025 Source: Metals Focus, World Gold Council

Sources: Metals Focus, World Gold Council; Disclaimer

*Data to 31 March 2025

 

Chart 3: Gold has continued to set successive new records so far in 2025… 

Daily gold price, US$/oz

Chart 3: Gold continues to set successive new records so far in 2025

Chart 3: Gold continues to set successive new records so far in 2025
Daily gold price, US$/oz
*Data to 31 March 2025. Source: ICE Benchmark Administration, World Gold Council

Sources: ICE Benchmark Administration, World Gold Council; Disclaimer

*Data to 31 March 2025. 

 

Chart 4: Record gold price subdues gold jewellery volume but boosts value

Quarterly gold jewellery demand in volume, tonnes, and value, US$bn

Chart 4: Record gold price subdues gold jewellery volume but boosts value

Chart 4: Record gold price subdues gold jewellery volume but boosts value
Quarterly gold jewellery demand, tonnes, and value, US$bn
*Data to 31 March 2025 Source: Metals Focus, ICE Benchmark Administration, World Gold Council

Sources: Metals Focus, ICE Benchmark Administration, World Gold Council; Disclaimer

*Data to 31 March 2025

 

Chart 5: Q1 saw a broad-based surge in ETF inflows 

Subtitle

Chart 5: Q1 ETF inflows show a broad based surge

Chart 5: Q1 ETF inflows show a broad based surge
Gold ETF flows by key market, tonnes*
*Data as of March 31 2025. Source: Bloomberg, Company Filings, ICE Benchmark Administration, World Gold Council

*Data as of March 31 2025.
Source: Bloomberg, Company Filings, ICE Benchmark Administration, World Gold Council

 

Chart 6: [Title text]

Chinese quarterly gold bar and coin demand in volume, tonnes, and value, U

Chart 6: Q1 Chinese bar and coin demand sees the second strongest quarter on record

Chart 6: Q1 Chinese bar and coin demand sees the second strongest quarter on record
Chinese quarterly gold bar and coin demand, tonnes, and value, US$bn*
*Data to 31 March 2025 Source: Metals Focus, ICE Benchmark Administration, Refinitiv GFMS, World Gold Council

Sources: Metals Focus, ICE Benchmark Administration, Refinitiv GFMS, World Gold Council; Disclaimer

*Data to 31 March 2025

 

Chart 7: Central bank gold demand remained healthy in Q1 2025

Quarterly central bank net purchases, tonnes*

GDT Q1 2025: Central Banks Chart 1

Sources: Metals Focus, World Gold Council; Disclaimer

*Data to 31 March 2025.

 

Chart 8: The National Bank of Poland was the largest gold buyer in Q1 2025

Net purchases/sales by country, tonnes*

Chart 8: The National Bank of Poland buys the most gold in Q1

Chart 8: The National Bank of Poland buys the most gold in Q1
Net purchases and sales by country, tonnes*
*Data to 31 March 2025 where available at the time of writing. Note: chart includes only purchases/sales of 1t or more. SOFAZ represents the State Oil Fund of Azerbaijan (SOFAZ). Source: IMF IFS, respective central banks, World Gold Council

Sources: IMF IFS, respective central banks, World Gold Council; Disclaimer

*Data to 31 March 2025 where available at the time of writing. Note: chart includes only purchases/sales of 1t or more. SOFAZ represents the State Oil Fund of Azerbaijan (SOFAZ).

 

Chart 9: Global mine production reaches new Q1 record in 2025

Subtitle

Chart 9: Global mine production reaches new Q1 record

Chart 9: Global mine production reaches new Q1 record
Q1 mine production by year, tonnes*
*Data to 31 March 2025. Source: Metals Focus, Refinitiv GFMS, World Gold Council

Sources: Metals Focus, Refinitiv GFMS, World Gold Council; Disclaimer

*Data to 31 March 2025.

 

Chart 10: Recycled gold volumes fell in Q1 despite the jump in gold prices

Quarterly supply of recycled gold by region, tonnes*

Chart 10: Recycled gold volumes fall in Q1 despite the jump in gold prices

Chart 10: Recycled gold volumes fall in Q1 despite the jump in gold prices
Quarterly supply of recycled gold by region, tonnes*
*Data to 31 March 2025. Source: ICE Benchmark Administration, Metals Focus, World Gold Council

Sources: ICE Benchmark Administration, Metals Focus, World Gold Council; Disclaimer

*Data to 31 March 2025