Gold Demand Remains Resilient Despite Price Slowdown
Gold demand remained resilient in Q2 2026 despite a slowdown in price momentum from record highs earlier this year. Total gold demand was flat year-on-year at 1,269t, according to the World Gold Council's (WGC) latest report.
The WGC's Central Bank Gold Reserves Survey found that 45% of central banks intend to increase their gold reserves over the next 12 months, highlighting gold's enduring importance in official reserves. The survey also revealed continued central bank buying, with a net addition of 289t to reserves in Q2.
Jewellery demand fell 17% year-on-year in Q2 due to high prices, but the value of jewellery demand rose 22% year-on-year in H1 to a global total of US$86bn. OTC market demand came in at 327t in Q2 and 571t in H1, driven by Asian investment.
The WGC's Senior Markets Analyst, Louise Street, commented: 'Gold's early-year rally reversed in the second quarter, with prices consolidating after correcting from record highs.'