1 August
Global gold supply to grow 1% in 2025 on record mine output — Metals Focus
Global gold supply is projected to grow by 1% this year due to record mine production, according to a report by Metals Focus. After reaching a high of 3,661 tonnes in 2024, output is expected to rise to 3,694 tonnes in 2025. In contrast, total demand is forecast to decline by 9%, led by a significant drop in jewelry consumption.
Metals Focus forecasts that gold prices will reach a new all-time high this year, with the annual average rising 35% to $3,210 per ounce. This is attributed to US policy uncertainty, geopolitical tensions, portfolio diversification, and active purchasing by central banks.
In 2024, net official sector purchases of gold reached a record 1,086 tonnes, driven by ongoing de-dollarization. Central banks are expected to add another 1,000 tonnes to their gold reserves this year, Mining Weekly reported.
Recommended
1 August
31 July
31 July
30 July
25 July
Top news
1 August
1 August
1 August
1 August