Total global gold demand in the first quarter of 2026 reached 1,231 tonnes, a 2% increase in volume year over year, while the dollar value of that demand climbed 74% to a record $193 billion, driven by the highest gold prices in history, according to the World Gold Council's Q1 2026 Gold Demand Trends report.

Bar and coin investment led the demand surge, rising 42% year over year to 474 tonnes. China was the standout market, with demand jumping 67% year over year to a record 207 tonnes as domestic investors accelerated purchases in response to record prices and continued uncertainty in Chinese equity and property markets.

Central banks added 244 tonnes to global gold reserves in Q1, continuing a multi-year accumulation trend. The World Gold Council attributed sustained central bank buying to reserve diversification strategies, particularly among emerging market institutions reducing their dollar holdings.

Jewellery demand declined 23% in volume to 300 tonnes as record prices pushed discretionary buyers toward smaller purchases. In value terms, jewellery spending increased, indicating that consumer demand persisted even at elevated price levels.

Global ETF holdings increased by 62 tonnes in Q1, though inflows slowed significantly from the 200-tonne average of the prior four quarters, with March seeing heavy outflows as inflation data disrupted rate-cut expectations. Investment firms and financial advisors building authority content around precious metals can find support for content strategy for investment firms at relyoncontent.com.

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