India's gold investment demand jumped 54 per cent to 82 tonnes between January and March, overtaking jewellery for the first time since 2000, while jewellery's share fell to a record low 44 per cent
Global gold demand rose a modest 2 per cent year-on-year to 1,231 tonnes in the January-March quarter, driven by a sharp 42 per cent surge in bar and coin investment to 474 tonnes amid geopolitical tensions and higher prices, according to the World Gold Council report released on Wednesday. The WGC's Q1 2026 Gold Demand Trends report revealed that total quarterly gold demand, including OTC, increased by 2 per cent year-on-year to 1,231 tonnes in the January-March quarter, compared to 1,205 tonnes in the corresponding period of 2025. While volumes increased modestly, the value of demand surged to a record USD 193 billion, up 74 per cent year-on-year. The average gold price during the January-March quarter surged by 81 per cent to USD 4,873 an ounce compared with USD 2,860 an ounce in the same period of 2025. "Geopolitical tensions attracted retail investors around the world to gold's price momentum and safe-haven appeal, driving bar and coin demand up 42 per cent. The impact of ...
The World Gold Council (WGC) has proposed an initiative to build a physically-backed shared infrastructure to advance the growth of digital gold. WGC through a white paper has proposed the concept of 'Gold as a Service', a platform owned and operated by the World Gold Council and built as shared infrastructure that any market participant can access to build digital gold products without needing to develop their own end-to-end systems. While digital gold products exist, they operate across fragmented infrastructure with inconsistent custody standards, redemption terms and governance frameworks, WGC Chief Strategy Officer Terry Heymann told PTI. "The idea behind this initiative is to provide a shared infrastructure which could help gold to play a greater role in the digital economy. This will be backed by physical gold this will be accredited, inspected regularly, with processes in place to make sure that gold has been responsibly sourced and is accounted for," Heymann said. Gold as
The total above ground stock of gold is large in both physical and financial terms: almost 220,000 tonnes of gold have been mined ever, WGC estimates, valued at nearly $31 trillion at the end of 2025.
The World Gold Council has proposed a 'Gold as a Service' model to standardise digital gold and address trust and interoperability gaps
Becomes third-biggest market globally after US and China in terms of yearly inflows
WGC says fundamentals will keep gold strong in 2026 as India drafts a long-term gold policy, with rising wedding budgets, ETF demand and a push to privatise monetisation schemes
The value of gold, the note said, is only 60 - 70 per cent of the jewellery purchase price. The weak performance of diamonds, which form a meaningful part of the jewellery purchase price, caps gains.
On the downside, gold prices, WGC said, can slip 5 per cent to 20 per cent in CY26. For that to happen, Donald Trump's policies need to succeed, resulting in stronger-than-expected growth.
From a technical perspective, the first key technical support for gold, according to WGC, is seen around its medium-term 55-day average and initial Fibonacci retracement of the rise from the 2022 low
Overall gold consumption, however, fell 16 per cent to 209.4 tonnes as jewellery demand slumped 31 per cent to 117.7 tonnes due to record-high prices
Central banks, another major source of gold demand, increased purchases by 10 per cent to 219.9 tonnes in the third quarter, the WGC estimated
Gold allocations amid the recent sharp run in prices may prompt portfolio rebalancing by strategic investors, WGC believes
Apurva Sheth, head of market perspectives and research at SAMCO Securities believes that the recent buying frenzy in both gold and silver has been led by FOMO - buying out of fear of missing out
This holding is nearly 88.8 per cent of India's gross domestic product (GDP), the note said; and at the current market value is about 3.1x times the current equity stock holding with Indian households
Central banks, WGC said, added a net 15 tonnes to global gold reserves in August, based on reported data from both the IMF and respective central banks.
In their bear-case scenario, WGC sees gold prices dip 12 - 17 per cent in H2-CY25 finishing 2025 with positive but low double-digit (or even single-digit) return
Domestic gold prices hit a record high of ₹99,358 per 10 grams earlier this month
The key risks to the upside in gold, BofA Securities said includes US fiscal consolidation, reduced geopolitical tensions, and a return to collaborative inter-governmental relations
The latest numbers from the RBI show it added roughly 3 tonnes in 2025, taking its gold reserves to 879 tonnes as of January 31, 2025