Gold trading hits $298 billion daily in March, says WGC report

Gold is more liquid than many major global financial assets, with average daily trading volumes reaching approximately US$163 billion in 2023, US$233 billion in 2024, and surging to US$298 billion in March 2025, according to a report released by the World Gold Council (WGC).

The gold market is large, global, and highly liquid. WGC estimates that total physical gold holdings – across jewellery, bars, coins, central banks and investors – are worth approximately US$16.1tn

The scale and depth of the gold market means it can comfortably accommodate large, buy-and-hold institutional investors. Unlike many financial markets, gold’s liquidity remains resilient even during periods of financial stress. This makes gold a valuable asset for investors needing to meet liabilities when other, less liquid assets may be difficult to sell or accurately value.

As the global economy and financial markets grapple with mounting uncertainty, fractured trade dynamics, persistent price pressures and heightened market volatility, gold is increasingly being recognised as a strategic anchor for portfolio resilience. Its enduring ability to preserve value, hedge against inflation, and provide stability during periods of systemic risk has reaffirmed its importance.

Gold has a proven track record of delivering positive returns over the long term. It tends to perform well in both good and challenging economic environments. During periods of turmoil and uncertainty, investors seek the safety of gold, driving its price higher. And in times of economic expansion, rising consumer demand continues to support and strengthen its value.

Across multiple time horizons, gold has stood out as a top performer – outpacing other major asset classes and delivering superior returns over the past one to 20 years, the WGC report said.” Our analysis confirms that gold complements equities and broad-based portfolios by offering a unique mix of returns, diversification, and liquidity. These characteristics make gold a powerful tool for enhancing a portfolio’s risk-adjusted performance, reducing volatility, and limiting large losses,” the report adds.