2025 年黃金市場展望：產業領導者和分析師預測持續成長

進入 2025 年，黃金繼續鞏固其作為可靠投資和珍貴裝飾品的地位。產業領導者和分析師持樂觀態度

Gold is set to retain its allure in 2025 as a reliable investment and ornament, with industry leaders and analysts optimistic about the precious metal’s outlook amid persistent inflation, geopolitical risks, and evolving market dynamics.

到 2025 年，黃金將繼續保持其作為可靠投資和裝飾品的吸引力，在持續的通膨、地緣政治風險和不斷變化的市場動態中，行業領袖和分析師對貴金屬的前景持樂觀態度。

As we move into 2025, gold continues to solidify its position both as a safe investment and a cherished ornament. Industry leaders and analysts are optimistic about the precious metal’s outlook, citing factors like inflation, geopolitical risks, and evolving market dynamics.

進入 2025 年，黃金繼續鞏固其作為安全投資和珍貴裝飾品的地位。產業領袖和分析師對貴金屬的前景持樂觀態度，理由是通膨、地緣政治風險和不斷變化的市場動態等因素。

Piyush Gupta, Director at PP Jewellers, highlights that gold’s appeal as both a safe investment and a symbol of adornment is set to rise in 2025, particularly with growing emphasis on sustainable sourcing practices. “Gold will continue to shine in the coming year, driven by its enduring appeal and its status as a hedge against uncertainty,” Gupta notes.

PP Jewellers 總監 Piyush Gupta 強調，黃金作為安全投資和裝飾象徵的吸引力將在 2025 年上升，特別是隨著人們越來越重視永續採購實踐。古普塔指出：“由於其持久的吸引力和對沖不確定性的作用，黃金在來年將繼續閃耀。”

Vikas Singh, MD & CEO of MMTC-PAMP, points to India’s cultural connection with gold and the recent reduction in import duties as key factors that will further fuel the sector’s growth. “The gold market is evolving with innovations like digital gold and ETFs, alongside traditional physical purchases, making it an attractive option for diversified portfolios. We remain bullish on gold’s long-term potential,” Singh says.

MMTC-PAMP 董事總經理兼執行長 Vikas Singh 指出，印度與黃金的文化聯繫以及最近進口關稅的降低是進一步推動該行業成長的關鍵因素。 「黃金市場隨著數位黃金和 ETF 等創新以及傳統的實體購買而不斷發展，使其成為多元化投資組合的有吸引力的選擇。我們仍然看好黃金的長期潛力，」辛格表示。

Rahul Joseph, Founder and CEO of White Gold, sees gold prices steadily climbing due to persistent inflation and geopolitical uncertainty. “Despite fluctuations in 2024, gold proved its resilience,” Joseph explains. “With government initiatives promoting gold monetisation and increasing investments in digital gold, I’m confident that gold will remain a strong investment in 2025.”

White Gold 創辦人兼執行長 Rahul Joseph 認為，由於持續的通貨膨脹和地緣政治的不確定性，金價將穩步攀升。 「儘管 2024 年出現波動，但黃金證明了其韌性，」約瑟夫解釋道。 “隨著政府推動黃金貨幣化和增加數位黃金投資的舉措，我相信黃金在 2025 年仍將是一項強勁的投資。”

Gold’s ability to retain its value during times of crisis is one of its key strengths. Analysts at Citigroup predict that gold could surpass $3,000 per ounce by the end of 2025, driven by geopolitical risks and ongoing inflation. The possible return of Donald Trump to the US presidency and global instability only enhance gold’s role as a safe-haven asset, they argue.

黃金在危機時期保值的能力是其主要優勢之一。花旗集團分析師預測，在地緣政治風險和持續通膨的推動下，到 2025 年底，金價可能會突破每盎司 3,000 美元。他們認為，唐納德·川普可能重返美國總統寶座和全球不穩定只會增強黃金作為避險資產的作用。

ICRA forecasts a robust 14-18% year-on-year growth in domestic gold jewellery consumption in 2025, spurred by the wedding and festival seasons. Following an 18% growth in gold jewellery consumption in FY2024, the momentum is expected to carry forward into the new year.

ICRA 預測，在婚禮和節日季節的推動下，2025 年國內黃金首飾消費將比去年同期強勁增長 14-18%。繼 2024 財年黃金首飾消費成長 18% 後，這一勢頭預計將延續到新的一年。

However, the World Gold Council (WGC) takes a more conservative stance, forecasting a slower pace of growth for gold in 2025. According to the WGC’s outlook, gold will continue to perform well as a safe-haven asset, but modest price increases are expected, barring a rapid deterioration of financial conditions or increased central bank acquisitions. The WGC believes that while the macroeconomic backdrop may limit growth, there is still potential for gold to see gains depending on broader financial conditions.

然而，世界黃金協會（WGC）的立場更為保守，預計2025年黃金成長速度將放緩。 。世界黃金協會認為，雖然宏觀經濟背景可能限製成長，但黃金仍有上漲潛力，具體取決於更廣泛的金融狀況。

In conclusion, while views on gold’s 2025 performance vary, its appeal as a hedge against global uncertainty and inflation remains a driving force. As geopolitical risks continue to rise, gold is likely to remain a key investment asset for those seeking stability in an unpredictable world.

總之，儘管對黃金 2025 年表現的看法各不相同，但其作為對沖全球不確定性和通膨的吸引力仍然是一個推動力。隨著地緣政治風險持續上升，對於那些在不可預測的世界中尋求穩定的人來說，黃金可能仍然是重要的投資資產。