HSBC Forecasts Higher Central Bank Gold Purchases, Lower Jewelry Demand in 2025

Published: May 6, 2025 10:52

Save

HSBC (April 23, 2025) forecasts that central banks will purchase 925 mt of gold in 2025, an increase from the previously forecasted 790 mt; it expects demand for gold jewelry to decline.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

20 hours ago

This Week, Platinum and Palladium Experienced Significant Pullbacks, End-Use Demand Recovered, and Spot Market Trading Was Normal [SMM Platinum and Palladium Weekly Review]

20 hours ago

Feb 6, 2026 12:00

Silver Prices Continue to Pull Back, Suppliers Remain Reluctant to Sell, Spot Market Premiums Hard to Decline [SMM Daily Review]

Feb 6, 2026 12:00

Feb 6, 2026 09:27

A gold and silver reset, not a reversal

Gold and silver have recovered part of their recent losses following one of the sharpest corrections seen in precious metals in over a decade

Feb 6, 2026 09:27

Related News

This Week, Platinum and Palladium Experienced Significant Pullbacks, End-Use Demand Recovered, and Spot Market Trading Was Normal [SMM Platinum and Palladium Weekly Review]

Feb 06, 2026 17:46

Silver Prices Continue to Pull Back, Suppliers Remain Reluctant to Sell, Spot Market Premiums Hard to Decline [SMM Daily Review]

Feb 06, 2026 12:00

A gold and silver reset, not a reversal

Feb 06, 2026 09:27

Spot Market and Domestic Inventory Brief Review (February 5, 2026) [SMM Silver Market Weekly Review]

Feb 05, 2026 17:36