Gold Demand Rose 84% in 2025 but Prices Fell 14% After U.S. Strikes on Iran

Global demand for gold rose 84% in 2025 to 2,175 tons, according to the World Gold Council. 38 per ounce in January before falling roughly 14% after the United States launched strikes on Iran in late February. Gold now trades below $4,500 per ounce.

U.S. Treasury bonds as a share of global central bank reserves for the first time in two decades. Gold accounted for 27% of those reserves in 2025, compared with 22% for Treasuries.

The People’s Bank of China has purchased gold for 18 straight months as of May 2026. Indonesian retailer Hartadinata Abadi climbed 115 places to No. 129 on the Fortune Southeast Asia 500 after revenue rose 135%.

2 million in revenue for the first quarter of 2026, with bullion accounting for 98% and jewelry 2%. Thendra Crisnanda, Hartadinata’s director of investor relations, said gold has traditionally been part of investment culture across Indonesia and Southeast Asia, often passed down through generations.

He added that demand has shifted from jewelry toward gold bars and bullion-related products since the COVID-19 pandemic.

9 million. Hugh Chung, the firm’s chief investment officer, said continued interest is expected in Asia because of financial uncertainty, dollar concerns, and easier access through digital platforms. StashAway began including gold in managed portfolios in 2024.

Its balanced portfolios now allocate 60% to equities, 30% to bonds, and 10% to gold. Stephanie Leung, StashAway’s chief investment officer, said 67% of gold investors on the platform are between 25 and 44 years old. Silver prices rose 145% in 2025, palladium more than 90%, and platinum close to 160%.

Joshua Rotbart, founder of bullion firm J. , said silver’s industrial uses, particularly in solar panels, distinguish it from gold. Leung noted that precious metals tend to move together when gold rallies.