In the third quarter of 2026, global demand for gold saw a significant decline. The World Gold Council (WGC) reported a 19% drop in jewelry demand and a 14% decrease in investment demand during this period.
Specifically, the demand for gold in jewelry fell to 340.1 tons, down from 420.0 tons in the same quarter last year. Investment demand also shrank, totaling 479.0 tons compared to 554.3 tons in the previous year.
Within the investment sector, the demand for gold bars and coins decreased by 19%, reaching 267.8 tons, down from 328.6 tons. Additionally, demand for gold exchange-traded funds (ETFs) dropped by 6%, totaling 211.2 tons compared to 225.7 tons in the prior year.
Despite the decline in consumer demand, central banks continued to purchase gold. According to the WGC, central banks and other institutions bought 321.2 tons of gold in Q3 2026, marking a 42% increase from 226.3 tons in the same quarter of the previous year.
Overall, total gold demand in the third quarter of 2026 was 1,368.6 tons, slightly down from 1,383.2 tons in the same period last year. The WGC also noted that gold production from mines reached 1,070.9 tons, a 3% increase from the 1,040.7 tons produced in Q3 2025.