Gold Investments Surge to Record High in Q3 2025
Gold investments surged in the third quarter of 2025, driven by global concerns and record-breaking inflows. Net longs for other net longs increased by 33% to 313t, reaching their highest level since 13 September 2022. Money manager net longs also rose by 7% to 493t.
The demand was primarily fueled by institutional investors in North America and Asia, who poured a record $17.3 billion into gold ETFs. This was due to growing worries about geopolitical risks and currency devaluations. European funds also saw significant buying, with inflows totaling US$8.2bn, just US$74mn shy of their record set in Q1 2020.
Gold market trading volumes surged in September, averaging US$388bn per day, an increase of 34% from the previous month. North American investors led the quarter, with an inflow of US$16.1bn, representing the largest Q3 and second-largest quarter on record. Global physically backed gold ETFs recorded their largest monthly inflow in September, resulting in the strongest quarter on record of US$26bn. Total net longs in COMEX gold rose by 23% during the month, concluding at 806t.
By the end of Q3, global gold ETFs' total assets under management (AUM) reached US$472bn, marking a 23% increase from the previous quarter and another record high. This significant growth in gold investments reflects investors' confidence in the precious metal as a safe haven amidst global uncertainties.
