Gold purchases in Iran surged during the second quarter of 2025, coinciding with the country’s 12-day conflict with Israel, according to a report released Thursday by the World Gold Council.
Despite historically high prices, gold sales in Iran rose by 20 percent compared to the same period last year. The report noted that demand for gold coins and bars has now reached its highest level in six years.
While global demand for gold bars and coins declined six percent quarter-on-quarter, Iran stood out as a significant exception.
“Iran was the outlier — consumers bought gold jewellery as a proxy investment, pushing demand in the quarter up 12 percent year-on-year,” said Louise Street, a senior analyst at the council.
Global jewellery demand fell 14 percent over the same period, but the overall value of purchases rose 21 percent, as buyers adjusted to higher prices in an effort to protect their savings during a period of mounting economic uncertainty.
Street noted that ongoing geopolitical tensions and unresolved U.S. tariff disputes — factors that supported gold prices in the first quarter — continued to underpin demand for gold-backed investment products through the April–June period.
AFP
