Switzerland Seeks Formal U.S. Pledge to Keep Gold Tariff-Free

In the first half of 2025, gold prices soared 26% to record highs, yet investors continued to buy in, especially through ETFs. The World Gold Council’s Q2 Gold Demand Trends report shows total global investment demand jumped 78% year-on-year, marking the strongest half-year since 2020. ETF inflows in Australia and worldwide offset earlier 2024 outflows, driven by fears of economic slowdown, geopolitical tensions, and currency debasement. Central banks continued large-scale purchases, adding 166 tonnes in Q2, while bar and coin buying rose 11%, led by Chinese and Indian investors. Jewellery demand, however, fell sharply. Analysts say ongoing market volatility and