The demand for gold in the first quarter rose massively amid an increase in the price of the yellow metal, according to a World Gold Council report.
The report says gold demand by volume increased by 74% to reach $193 billion in the first quarter of 2026.
On a sector-by-sector basis, the demand for gold bars and coins rose by 42% to reach 474 tons, the second-largest quarterly increase of all time. Gold purchases by central banks, on the other hand, reached 244 tons in the first quarter. The purchase of gold for technology purposes rose by 1% to reach 82 tons over the same period. The demand for gold for jewelry purposes, however, fell as the composition of demand favored investment over fabrication.
According to the World Gold Council, the “geopolitical risk premium that has helped lift gold over the past few years is set to continue and possibly expand as the year progresses.”
The World Gold Council says the demand for the yellow metal will continue to come from both individual and institutional investors.
“As a result, demand for gold [exchange-trade funds] ETFs and [over-the-counter market] OTC could be positive but lower than in 2025. Bar and coin demand, on the other hand, is likely to feature more in 2026 as high prices, a lack of viable alternative investments in some markets, inflation fears and heightened uncertainty continue to attract both savers and speculators…
…Central bank buying is expected to be solid at levels close to those in 2025. Demand shows good traction despite price volatility and continued geo-economic risks could provide additional upside. However, periodic mobilization of gold reserves on further supply shocks cannot be discounted.”
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