Global gold demand reached a record value of $193 billion in the first quarter of 2026, a 74% jump from the prior year, even though total volume rose a more modest 2% to 1,231 tonnes, according to the World Gold Council's Gold Demand Trends report. The gap between the two figures reflects how sharply gold prices climbed during the quarter.

Bar and coin investment totaled 474 tonnes, up 42% year over year and the second highest quarterly total on record, with buyers across Asia driving much of the increase. Gold backed exchange traded funds added 62 tonnes of net inflows during the quarter, a slower pace than the 230 tonnes added in the same period a year earlier after sizable outflows from US listed funds in March.

Jewellery demand told a different story, falling 23% in volume even as total spending on jewellery rose 31%, a sign that consumers kept buying despite record prices by paying more for less gold. Central banks continued adding to their reserves during the quarter as well, extending a multi year buying trend.

The LBMA gold price averaged $4,873 per ounce for the quarter, a new quarterly record, after touching an intraday high above $5,400 in January before pulling back. Total gold supply grew 2% to 1,231 tonnes, supported by higher mine output and a 5% increase in recycled gold.

This is not financial or investment advice. Figures are sourced from World Gold Council reporting.

Source: World Gold Council - https://www.gold.org/goldhub/research/gold-demand-trends/gold-demand-trends-q1-2026