MARKET NEWS
Gold demand reaches record in Q3 with 'FOMO bar and coin trade in full swing' - YAHOO FINANCE
Global Gold (GC=F) demand surged to an all-time high in the third quarter, fueled by a wave of exchange-traded fund (ETF) investments and all-time high bullion prices.
A new World Gold Council report released on Thursday showed total demand for the yellow metal climbed 3% year over year to 1,313 metric tons. The demand was led by “huge ETF buying" and bar and coin purchases, the report said.
“Investors remained firmly in the driving seat in Q3,” the report said, citing "fear of missing out" buying.
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“With the FOMO bar and coin trade in full swing — helped along by geopolitical concerns — we maintain our positive full-year estimate,” it said. “Gold’s rapid price rise has not been a deterrent as it has been on occasion historically.”
The World Gold Council projects central banks are likely to continue their buying spree, with a full-year estimate of 750 to 900 metric tons, lower than last year but in line with year-to-date flows.All
Spot gold has risen about 50% so far in 2025, hitting a record $4,381 per ounce on Oct. 20 before dropping sharply, bringing its monster rally to a halt.
On Thursday, gold futures climbed 0.5% to $4,020, with the precious metal in a period of consolidation over the past several sessions.
Wall Street expects prices for the precious metal to go higher into 2026.
UBS analysts believe gold should rebound in the near-term, reaching $4,700 by the end of the first quarter of 2026. Goldman Sachs sees gold hitting $4,900 per troy ounce by the end of next year.
