Gold is on track for its strongest year since 1979, with New York-traded gold futures surging nearly 71% in 2025.

The World Gold Council (WGC) predicted Thursday that a global economic slowdown or rising geopolitical tensions could spark another surge in gold prices.

Global gold demand rose by 3% year-on-year in the third quarter of this year, reaching record-high quarterly levels, the World Gold Council (WGC) reported on Thursday.

Editor's note: Teymur Atayev is an Azerbaijani publicist, historian, political scientist, and host of the program "Aspects of Foreign Affairs" on the Azerbaijani CBC TV channel (broadcasts in Russian). The article expresses the personal opinion of the author and may not coincide with the view of News.Az.

Global gold demand rose 1% year-on-year in the first quarter of 2025, reaching 1,206 metric tons—the highest Q1 total since 2016, according to the latest report from the World Gold Council.

Global gold demand hit an all-time high of 4,974 tons in 2024, driven by strong central bank purchases and growing investment interest, according to the World Gold Council’s latest report.

Gold prices reached historic highs on August 1, breaking the $2,500 mark on the New York Comex exchange. The precious metal reached a price of $2,502.6 for the first time in its history, influenced by the U.S. Federal Reserve’s decision to leave interest rates unchanged, geopolitical risks, and the constant demand from central banks.