Gold Demand Holds Steady Amid Lower Prices
Global gold demand remained stable in Q2 2026, according to the World Gold Council's latest report. The total gold demand was flat year-on-year at 1,269 tonnes, as the gold price eased from record highs seen at the start of 2026.
The lower gold price helped lift first-half demand by 2 percent year-on-year to an estimated 2,522 tonnes, worth US$380 billion. This growth was driven by central banks and other official institutions, which added a net 289 tonnes to gold reserves in Q2, up 62 percent year-on-year.
However, investment in gold-backed exchange-traded funds (ETFs), bars, and coins fell to 262 tonnes in the second quarter as the strong investment momentum seen earlier in the year eased. The decline was primarily driven by 45 tonnes of outflows from gold-backed ETFs during the quarter.