Global Gold Demand Flat Q2 2026 Amid Central Bank Purchases
The World Gold Council reported that global gold demand remained flat at 1,269 tonnes in the second quarter of this year. This is a minor decrease compared to the same period last year when demand was 1,268.6 tonnes. The first half of the year saw an increase in demand by 2% year-over-year to an estimated 2,522 tonnes, worth USD 380 billion.
Investment in gold ETFs (exchange-traded funds), bars and coins dropped to 262 tonnes in the second quarter due to lower gold prices. However, bar and coin investment was relatively stable, down just 3% year-over-year during the quarter. Central banks and other official institutions added a net 289 tonnes to their reserves during the April-June quarter, up 62% year-over-year.
High prices continued to weigh on jewellery demand in Q2, which fell 17% year-over-year as consumers bought less gold and shifted towards lighter products. The total gold supply during the second quarter was unchanged year-over-year at 1,269 tonnes, as mine production and recycling diverged.