Strong global demand for gold investment.

Recently, the World Gold Council released the "Global Gold Demand Trends Report for the Second Quarter of 2025," which showed that in a high gold price environment, global gold demand in the second quarter reached a total of 1249 tons, an increase of 3% compared to the previous year. Currently, the complex and volatile political environment, along with the rising gold price momentum, has increased investment demand, with strong gold investment inflows being the main driving force behind the growth in demand in the second quarter of this year. Regarding the rising demand for gold bars and coins in China, Wang Lixin, CEO of the World Gold Council's China office, believes that the domestic gold price rose by 24% in the first half of the year, outperforming other assets and attracting continued investment inflows. At the same time, the People's Bank of China's continued gold purchases have also led to follow-up investments by some domestic investors. In the second half of the year, gold is still expected to remain one of the most favored assets in China. "Potential global geopolitical and economic risks, combined with uncertainty in domestic growth, are driving investor demand for safe-haven assets, which is expected to continue to benefit gold bar and coin investments. At the same time, if rate cut expectations are met and the People's Bank of China continues to buy gold, it may also boost Chinese investors' interest in gold," Wang Lixin said.