According to World Bank data, the global gold price trend continued to rise until the end of Q3 2025.
As of September 2025, the average price of 99.5% fine gold (London Fix Afternoon Price) had reached US$3,667 per troy ounce.
Its price increased by 43% compared to September last year (year-on-year), simultaneously setting a new record high price in the World Bank's records.
This increase in gold prices is in line with the World Bank's projections in its April 2025 edition of the Commodity Markets Outlook.
In the report, the World Bank estimates that the average gold price throughout 2025 will increase by approximately 36% (year-on-year).
However, the increase could be higher if geopolitical tensions escalate.
"Increased policy uncertainty and trade tensions, a weakening US dollar, rising financial volatility, and worsening conflicts could push precious metal prices beyond current projections," the World Bank stated.
"Rising geopolitical tensions could boost demand for gold, not only from private entities but also from central banks," it added.