Global Gold Demand Flat as Indian Jewellery Demand Falls
The World Gold Council (WGC) released its Q2 2026 Gold Demand Trends report, which shows that global gold demand was flat year-over-year at 1,269 tonnes in the April-June quarter. In contrast, Indian jewellery demand fell 15% to 75 tonnes during the same period.
The report notes that high prices continued to weigh on jewellery demand in Q2, leading to a decline of 17% year-over-year as consumers opted for lighter products. However, the value of gold jewellery demand remained resilient, increasing by 22% year-over-year to $86 billion in the first half of 2026.
Central banks and other official institutions added a net 289 tonnes to their reserves during the April-June quarter, up 62% from last year's corresponding period. This was driven by buying activity across several markets, led by countries such as Poland, China, and the Czech Republic.