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[Global Central Banks Bought 220 Tons of Gold in Q3, Spending $41 Billion on Jewelry] On March 30th, local time, the World Gold Council released its "Global Gold Demand Trends Report" for Q3 2025. Global gold demand reached 1,313 tons in Q3, a 3% year-on-year increase; the value of gold demand surged 44% year-on-year to $146 billion, both record highs for a single quarter. By the end of Q3, total gold demand had increased by 1% to 3,717 tons, valued at $384 billion, a 41% year-on-year increase. Investment demand dominated. Global gold investment demand surged to 537 tons in Q3, a 47% year-on-year increase, accounting for 55% of net gold demand in the quarter. Gold ETFs performed particularly well, with global holdings increasing by 222 tons; physical gold investment was also robust, with demand for gold bars and coins exceeding 300 tons for the fourth consecutive quarter. International gold prices repeatedly hit new highs. Gold futures prices on the New York Mercantile Exchange rose 17.1% from $3,307.7 per ounce at the end of June to $3,873.2 per ounce at the end of the third quarter. The price surged even more sharply in October, breaking through $4,000. On October 20th, gold futures prices briefly touched a record high of $4,392 per ounce, highlighting the current market's enthusiasm for gold investment. The high gold prices have not deterred central banks' gold purchases. In the third quarter, global central banks' net gold purchases totaled 220 tons, a 28% increase from the second quarter and a 10% year-on-year increase. [Microphone] Industry insiders stated that escalating geopolitical tensions, persistently high inflationary pressures, and uncertainty surrounding global trade policies have all contributed to increased investor demand for safe-haven assets. A weakening dollar, expectations of a Federal Reserve interest rate cut, and the existence of stagflation risks will further support future investment demand for gold. (CCTV Finance)