BREAKING: Global gold demand rose +40 tonnes YoY in 2025, to a record 5,002 tonnes. This marks the 4th consecutive annual increase. Since 2021, demand for gold has soared +292 tonnes. In US Dollar terms, total gold demand jumped +45% YoY, to $552 billion, an all-time high, doubling since 2022. This comes as global gold ETF holdings surged +801 tonnes YoY, marking the 2nd-strongest year on record. At the same time, bar and coin demand jumped to a 12-year high of 1,374 tonnes. Central bank gold demand hit 863 tonnes in 2025, the 4th-highest year on record and above the 2010-2021 annual average of 473 tonnes. The global gold rush is accelerating.