Commodities Buzz: Global gold demand holds near record levels despite high prices: WGC

As per the latest report released by the World Gold Council (WGC), global gold demand, including over-the-counter (OTC) investment, declined 1% year-on-year to 1,369 tonnes in Q3. However, year-to-date demand remained virtually unchanged from the record levels of 2025 at 3,881 tonnes, while the total value of gold demand surged to a new high of US$566 billion. Central bank purchases rebounded sharply to 321 tonnes during the quarter, taking year-to-date buying to 675 tonnes, up 6% year-on-year. Gold ETFs also recorded inflows of 211 tonnes, reversing the previous quarter's outflows amid growing concerns over fiscal sustainability and inflation. In contrast, bar and coin demand fell 19% to 268 tonnes, while jewellery consumption declined 17% to 313 tonnes, its weakest Q3 reading in the WGC's data series, as elevated prices continued to weigh on buyers. Meanwhile, technology demand increased 3% year-on-year, supported by stronger AI-related manufacturing activity.

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