World Gold Council: Central banks accelerated gold purchases in the third quarter, with gold ETF inflows reaching a record high.

```

While gold prices are "soaring," gold demand is surging. In the third quarter, central banks accelerated their gold purchases, and gold ETF inflows hit a record high.

On October 30, the World Gold Council released its latest report stating that from July to September, central banks bought 220 tons of gold, up 28% from the previous quarter, reversing the decline seen at the start of the year. The National Bank of Kazakhstan was the largest single buyer, and the Central Bank of Brazil bought gold for the first time in over four years.

The report shows that in the third quarter of 2025, total global gold demand (including over-the-counter transactions) reached 1,313 tons, with a total value of $146 billion, setting a quarterly record for gold demand. Notably, during the same period, gold ETF inflows hit a historic high, with global inflows reaching $26 billion.

The World Gold Council expects that geopolitical situations, inflationary pressures, and uncertainty around global trade policy will continue to support gold demand for the rest of the year. The organization predicts that central banks' total gold purchases for 2025 will be between 750 and 900 tons.

Central bank gold purchases remain high but below last year's

As of September, central banks have accumulated 634 tons of gold reserves this year, which is lower than in the same period over the last three years, but significantly higher than the average before the Russia-Ukraine conflict in 2022. Louise Street, Senior Market Analyst at the World Gold Council, said in a report published Thursday:

"Rising geopolitical tensions, stubborn inflationary pressure, and global trade policy uncertainty have all stimulated demand for safe haven assets."

Despite a recent pullback, spot gold prices have risen by around 50% since the start of the year, hitting a record high of over $4,380 per ounce earlier this month. The World Gold Council analysis suggests that surging gold prices may be one of the factors that limited central bank gold buying in the first half of the year; the rebound in demand in the third quarter shows that central banks are still strategically increasing holdings. The organization also estimates that 66% of gold buying demand this quarter has not yet been publicly reported.

Gold ETF inflows at record high

Strong investor demand for gold ETFs was one of the main drivers of overall gold demand growth this quarter. Gold ETF inflows reached a record high in the third quarter, with global inflows hitting $26 billion. The sustained rise in gold prices has caused investors to worry about missing out on gains, and gold’s dual role as a safe haven and a hedge makes it popular with investors.

The World Gold Council says that expectations for further monetary easing by the Federal Reserve and concerns about the health of the U.S. economy drove investors into the gold market this quarter. On Wednesday Eastern Time, the Federal Reserve cut interest rates by 25 basis points as expected, but Fed Chair Powell said that further cuts in December are "not set in stone."

Risk warning and disclaimerThe market has risks and investment needs caution. This article does not constitute personal investment advice, nor does it take into account the specific investment objectives, financial situation, or needs of individual users. Users should consider whether any opinions, views, or conclusions in this article are suitable for their particular situation. Investments made accordingly are at your own risk. ```