Gold Demand by Sector: Q1 2024 vs. Q1 2025

Investment Jewelry Central banks Technology

Two pie charts comparing the share of global gold demand by sector in Q1 2024 and Q1 2025. In Q1 2024, Jewelry led with 48%, followed by Investment (27%), Central banks (18%), and Technology (7%). In Q1 2025, Investment rose sharply to 42%, Jewelry declined to 33%, Central banks fell slightly to 19%, and Technology dropped to 6%. The charts highlight a shift from consumer to investor-led gold demand.