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      <liveTestFlag>LIVE</liveTestFlag>
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        <confirmingCopyFlag>false</confirmingCopyFlag>
        <returnCopyFlag>false</returnCopyFlag>
        <overrideInternetFlag>false</overrideInternetFlag>
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      <filer>
        <credentials>
          <cik>0001317802</cik>
          <ccc>XXXXXXXX</ccc>
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      <periodOfReport>09-30-2025</periodOfReport>
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    <coverPage>
      <reportCalendarOrQuarter>09-30-2025</reportCalendarOrQuarter>
      <isAmendment>false</isAmendment>
      <filingManager>
        <name>Guild Investment Management, Inc.</name>
        <address>
          <ns1:street1>31225 LA BAYA DRIVE</ns1:street1>
          <ns1:street2>SUITE 214</ns1:street2>
          <ns1:city>WESTLAKE VILLAGE</ns1:city>
          <ns1:stateOrCountry>CA</ns1:stateOrCountry>
          <ns1:zipCode>91362</ns1:zipCode>
        </address>
      </filingManager>
      <reportType>13F HOLDINGS REPORT</reportType>
      <form13FFileNumber>028-15550</form13FFileNumber>
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      <secFileNumber>801-56863</secFileNumber>
      <provideInfoForInstruction5>N</provideInfoForInstruction5>
    </coverPage>
    <signatureBlock>
      <name>Anthony Danaher</name>
      <title>President / Chief Compliance Officer</title>
      <phone>310-826-8600</phone>
      <signature>/s/  Anthony Danaher</signature>
      <city>Los Angeles</city>
      <stateOrCountry>CA</stateOrCountry>
      <signatureDate>11-05-2025</signatureDate>
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      <tableValueTotal>125969336</tableValueTotal>
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