Global central banks are on pace to purchase approximately 585 tonnes of gold per quarter through 2026, maintaining historically elevated buying levels that have been a primary structural driver of gold prices holding above $4,400 per ounce through the first half of the year, according to data from J.P. Morgan Global Research and the World Gold Council.

Key gold market statistics for 2026:

- Gold spot price (June 2, 2026): $4,523.39 per ounce - Silver spot price (June 2, 2026): $76.67 per ounce - Central bank gold purchases: approximately 585 tonnes per quarter projected through 2026 (J.P. Morgan/World Gold Council) - J.P. Morgan Q4 2026 gold price target: $5,000 per ounce - Longer-term J.P. Morgan price scenario: $6,000 per ounce - Gold supply from new mining projects is constrained by regulatory requirements and exploration costs

The World Gold Council tracks quarterly gold demand across four categories: central bank and government purchases, jewelry manufacturing, investment products (ETFs and physical bars), and technology uses including electronics. Central bank buying has been the dominant demand driver in both 2024 and 2025.

US institutional investors have increased gold ETF allocations in 2026, with SPDR Gold Trust and iShares Gold Trust reporting net inflows. Retail investor interest in physical gold bars and coins has also increased amid inflation concerns and geopolitical uncertainty tied to US-Iran tensions and ongoing trade policy volatility.

Source: World Gold Council -- https://www.gold.org/goldhub/research/gold-demand-trends