Gold Demand Stays Strong Despite Price Correction

The World Gold Council's Q2 2026 Gold Demand Trends report shows that total gold demand was flat year-on-year at 1,269t, as the gold price eased from record highs seen in early 2026. This led to a 2% increase in demand for the first half of the year to an estimated 2,522t worth US$380bn.

Investment in gold ETFs, bars, and coins dropped to 262t in Q2 due to lower prices tempering earlier momentum. However, bar and coin investment was relatively stable, down just 3% year-on-year in Q2, while first-half demand was still 21% higher than at this point last year.

Central banks added a net 289t to reserves in Q2, up 62% year-on-year, as buying picked up across several markets. The WGC's Central Bank Gold Reserves Survey found that 45% of respondents intend to increase their own gold reserves over the next 12 months.