Chart Gallery
30 July, 2026
Chart 1: Q2 demand stabilised following modest Q1 growth
Quarterly demand, tonnes and US$ value*
Chart 1: Q2 demand stabilised following modest Q1 growth
Sources: ICE Benchmark Administration, Metals Focus, World Gold Council; Disclaimer
*Data as of 30 June 2026.
Chart 2: Healthy investment countered by weak jewellery; central bank buying sustained; supply constrained
Expected change in annual gold demand, tonnes*
Chart 2: Healthy investment countered by weak jewellery; central bank buying sustained; supply constrained
Sources: World Gold Council; Disclaimer
*Data to 30 June 2026.
Chart 3: North American ETF demand has resumed its negative relationship with US rates
Rolling weekly correlation between changes in North American ETF demand in tonnes and the US 10-year TIPS yield, %*
Chart 3: North American ETF demand has resumed its negative relationship with US rates
Sources: Bloomberg, World Gold Council; Disclaimer
*Data as of 17 July 2026. Correlation calculated on a rolling 52-week basis on changes in ETF demand and changes in the US 10-year TIPS yield.
Chart 4: Weaker gold jewellery demand volumes continue to diverge from rising value
Quarterly jewellery consumption by region, tonnes and US$ value*
Chart 4: Weaker gold jewellery demand volumes continue to diverge from rising value
Sources: ICE Benchmark Administration, Metals Focus, World Gold Council; Disclaimer
*Data to 30 June 2026
Chart 5: Substitution from jewellery to lower-premium investment gold was a notable trend across Asia during H1
Y/y % change in H1 jewellery demand and bar and coin investment, tonnes*
Chart 5: Substitution from jewellery to lower-premium investment gold was a notable trend across Asia during H1
Sources: Metals Focus, World Gold Council; Disclaimer
*Data as of 30 June 2026
Chart 6: Global ETFs registered modest net inflows over the first half year
Global quarterly ETF demand, tonnes, and AUM, US$bn*
Chart 6: Global ETFs registered modest net inflows over the first half year
Sources: Bloomberg, Company Filings, ICE Benchmark Administration, World Gold Council; Disclaimer
*Data as of 30 June 2026
Chart 7: Asian markets have increasingly dominated global bar and coin demand in recent years
Four-quarter rolling bar and coin investment by region, tonnes*
Chart 7: Asian markets have increasingly dominated global bar and coin demand in recent years
Sources: Metals Focus, World Gold Council; Disclaimer
*Data as of 30 June 2026
Chart 8: Central bank buying rebounded sharply in Q2 following a Q1 lull
Quarterly central bank net purchases, tonnes*
Chart 8: Central bank buying rebounded sharply in Q2 following a Q1 lull
Sources: Metals Focus, Refinitiv GFMS, World Gold Council; Disclaimer
*Data to 30 June 2026.
Chart 9: Reported data puts Poland in pole position y-t-d
Y-t-d reported central bank net purchases and sales, tonnes*
Chart 9: Reported data puts Poland in pole position y-t-d
Sources: IMF, respective central banks, World Gold Council; Disclaimer
*Data to 30 June 2026 where available. Note: The Bulgarian National Bank's transfer of 2t to the European Central Bank as part of its adoption of the euro is excluded from the chart.
Chart 10: Mine production saw modest gains in Q2, building on Q1 growth
Annual H1 mine production, tonnes*
Chart 10: Mine production saw modest gains in Q2, building on Q1 growth
Sources: Metals Focus, Refinitiv GFMS, World Gold Council; Disclaimer
*Data to 30 June 2026.
Chart 11: Recycling activity in Asian markets subsided, while Western flows saw mild growth
Quarterly supply of recycled gold by region, tonnes*
Chart 11: Recycling activity in Asian markets subsided, while Western flows saw mild growth
Sources: ICE Benchmark Administration, Metals Focus, World Gold Council; Disclaimer
*Data to 30 June 2026.
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