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*

Bar and coin investors drove y/y growth in Q1 demand

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*

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

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*

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

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*

GDT Q1 2026: Investment 1

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*

GDT Q1 2026: Investment Chart 2a

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*

GDT Q1 2026: Investment Chart 2b

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*

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

Chart 9: Central bank buying remained elevated in Q1, alongside a pick up in reported sales
Quarterly central bank net purchases, tonnes*
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 10: Mine production estimates put it at a new first quarter record, just ahead of Q1’23

First quarter mine production, tonnes*

GDT Q1 2026: Supply Chart 1

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*

GDT Q1 2026: Supply Chart 2

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

*Data to 31 March 2026.

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