Demand for gold rose significantly in the first quarter amid a rise in the price of the yellow metal, according to a report by the World Gold Council.
Report He says Gold demand by volume rose by 74% to reach $193 billion in the first quarter of 2026.
On a sector-by-sector basis, demand for gold bullion and coins rose 42% to 474 tons, the second largest quarterly increase on record. On the other hand, central banks’ purchases of gold amounted to 244 tons in the first quarter. Purchases of gold for technology purposes increased by 1% to 82 tons during the same period. However, demand for gold for jewelry purposes declined, as the composition of demand favored investment over manufacturing.
According to 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 demand for the yellow metal will continue to come from individual and institutional investors.
“As a result, demand for gold (exchange-traded funds) and ETFs (over-the-counter market) could be positive but lower than it was in 2025. On the other hand, demand for bullion and coins is likely to emerge more strongly in 2026 as high prices, lack of viable alternative investments in some markets, inflation fears and rising uncertainty continue to attract both savers and speculators…
…Central bank purchases are expected to be robust at levels close to those in 2025. Demand is showing good momentum despite price volatility and persistent geo-economic risks that could provide additional upside. However, cyclical mobilization of gold reserves cannot be ruled out in the event of further supply shocks.
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