Gold demand went nuts in 2025. Both countries saw demand spike during their traditional buying seasons, but 2025 numbers crushed previous records. Gold peaked at $2,500 per ounce in December 2025, a wild jump from the $1,800 levels traders saw in early 2024. China’s Shanghai Gold Exchange delivered the knockout punch with 25% more gold deliveries in December 2025 versus the previous year. That kind of growth doesn’t happen by accident – it shows China’s massive influence on global gold pricing and demand patterns that ripple across continents.