Chart Gallery

29 April, 2026

 

Chart 1: Bar and coin investors drove y/y growth in Q1 demand

First quarter gold demand by sector, tonnes*

Chart 1: Bar and coin investors drove y/y growth in Q1 demand

Chart 1: Bar and coin investors drove y/y growth in Q1 demand
First quarter gold demand by sector, tonnes*
Sources: Metals Focus, Refinitiv GFMS, World Gold Council; Disclaimer * Data to 31 March 2026.

Sources: Metals Focus, Refinitiv GFMS, World Gold Council; Disclaimer

* Data to 31 March 2026.

 

Chart 2: Strong investor interest to offset weak jewellery demand; central bank buying remains solid; supply up modestly

Expected change in annual gold demand*

Chart 2: Strong investor interest to offset weak jewellery demand; central bank buying remains solid; supply up modestly

Chart 2: Strong investor interest to offset weak jewellery demand; central bank buying remains solid; supply up modestly
Expected change in annual gold demand*
Sources: Metals Focus, World Gold Council; Disclaimer *Data to 31 March 2026.

Sources: Metals Focus, World Gold Council; Disclaimer

*Data to 31 March 2026.

 

Chart 3: Gold price in all currencies peaked in January followed by notable corrections; broad trend remains intact

Gold price in various currencies, indexed to 1 Jan 2025*

Chart 3: Gold price in all currencies peaked in January followed by notable corrections; broad trend remains intact

Chart 3: Gold price in all currencies peaked in January followed by notable corrections; broad trend remains intact
Gold price in various currencies, indexed to 1 Jan 2025*
Sources: Bloomberg, ICE Benchmark Administration, World Gold Council; Disclaimer *Data to 21 April 2026.

Sources: Bloomberg, ICE Benchmark Administration, World Gold Council; Disclaimer

*Data to 21 April 2026.

 

Chart 4: Continued shape-shifting in global demand as jewellery yields to investment

Quarterly investment, bar and coin demand and quarterly jewellery and technology fabrication, tonnes* 

GDT Q1 2026: Jewellery 2

Sources: ICE Benchmark Administration, Metals Focus, World Gold Council; Disclaimer

* Data to 31 March 2026. Data for jewellery and technology fabrication is gross (inclusive of recycled gold), while investment tonnage is net. 

 

Chart 5: Global gold jewellery consumers chalk up record first quarter spend despite falling volumes 

Quarterly jewellery consumption, tonnes*

GDT Q1 2026: Jewellery 3

Sources: ICE Benchmark Administration, Metals Focus, World Gold Council; Disclaimer

*Data to 31 March 2026

 

Chart 6: Consistent buying by Asian investors during Q1 offset sharp March sales of Western funds

Global quarterly ETF demand, tonnes, and AUM, US$bn*

Consistent buying by Asian investors during Q1 offset sharp March sales of Western funds

Consistent buying by Asian investors during Q1 offset sharp March sales of Western funds
Global quarterly ETF demand, tonnes, and AUM, US$bn*
Sources: Bloomberg, Company Filings, ICE Benchmark Administration, World Gold Council; Disclaimer * Data to 31 March 2026.

Sources: Bloomberg, Company Filings, ICE Benchmark Administration, World Gold Council; Disclaimer

* Data to 31 March 2026.

 

Chart 7: Investment takes up jewellery slack in China..  

Quarterly Chinese jewellery, bar and coin demand, tonnes*

Investment takes up jewellery slack in China..

Investment takes up jewellery slack in China..
Quarterly Chinese jewellery, bar and coin demand, tonnes*
Sources: Metals Focus, World Gold Council; Disclaimer * Data to 31 March 2026. Jewellery consumption is gross (incl. recycling) while bar and coin demand is net.

Sources: Metals Focus, World Gold Council; Disclaimer

* Data to 31 March 2026. Jewellery consumption is gross (incl. recycling) while bar and coin demand is net. 

 

Chart 8: ..and almost matches jewellery in India

Quarterly Indian jewellery, bar and coin demand, tonnes*

Chart 8: ..and almost matches jewellery in India

Chart 8: ..and almost matches jewellery in India
Quarterly Indian jewellery, bar and coin demand, tonnes*
Sources: Metals Focus, World Gold Council; Disclaimer * Data to 31 March 2026. Jewellery consumption is gross (incl. recycling) while bar and coin demand is net.

Sources: Metals Focus, World Gold Council; Disclaimer

* Data to 31 March 2026. Jewellery consumption is gross (incl. recycling) while bar and coin demand is net. 

 

Chart 9: Central bank buying remained elevated in Q1, alongside a pick up in reported sales

Quarterly central bank net purchases, tonnes*

GDT Q1 2026: Central Banks chart 1

Sources: Metals Focus, World Gold Council; Disclaimer

*Data to 31 March 2026.

 

Chart 10: Mine production estimates put it at a new first quarter record, just ahead of Q1’23

First quarter mine production, tonnes*

Chart 10: Mine production estimates put it at a new first quarter record, just ahead of Q1’23

Chart 10: Mine production estimates put it at a new first quarter record, just ahead of Q1’23
First quarter mine production, tonnes*
Sources: Metals Focus, Refinitiv GFMS, World Gold Council; Disclaimer *Data to 31 March 2026.

Sources: Metals Focus, Refinitiv GFMS, World Gold Council; Disclaimer

*Data to 31 March 2026.

 

Chart 11: Record prices finally begin to feed through to higher recycling volumes

Quarterly supply of recycled gold by region, tonnes*

Chart 11: Record prices finally begin to feed through to higher recycling volumes

Chart 11: Record prices finally begin to feed through to higher recycling volumes
Quarterly supply of recycled gold by region, tonnes*
Sources: ICE Benchmark Administration, Metals Focus, World Gold Council; Disclaimer *Data to 31 March 2026.

Sources: ICE Benchmark Administration, Metals Focus, World Gold Council; Disclaimer

*Data to 31 March 2026.

Important disclaimers and disclosures [+]Important disclaimers and disclosures [-]