The World Gold Council's Q1 2026 Gold Demand Trends report documents demand reaching record value levels as elevated prices combine with sustained buying across multiple categories. Total Q1 gold demand, including OTC transactions, was 1,231 tonnes, up 2% year-over-year. The value of that demand reached a record $193 billion, a 74% year-over-year increase driven by gold's price appreciation from $3,335 per ounce in Q1 2025 to approximately $4,700 per ounce in Q1 2026.

Bar and coin investment demand reached 474 tonnes in Q1, the second highest quarterly total on record, up 42% year-over-year. China led retail investment demand, with Chinese bar and coin buying surging 67% year-over-year to a record 207 tonnes, well above the previous quarterly record of 155 tonnes set in Q2 2013.

Central bank purchasing remained solid at 244 tonnes in Q1, a 3% year-over-year increase, as institutions across Asia and the Middle East continued diversification away from US dollar reserves. Gold-backed ETF inflows added 62 tonnes during the quarter, a positive figure though below the very strong 230 tonnes recorded in Q1 2025.

The one category under pressure was jewellery, where demand volumes fell 23% year-over-year as consumers responded to record prices by purchasing less by weight. Jewellery spend in dollar terms, however, rose 31%, confirming that consumers are paying more even as they buy less.

For investment advisors and precious metals publishers, these demand trends provide concrete data to anchor a content strategy for investment firms and communicate the sustained fundamentals behind gold's performance.

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