MOSCOW, April 29. /TASS/. Gold demand in January-March 2026, including over-the-counter (OTC), increased by 2% year-on-year to 1,231 tons, according to a report by the World Gold Council (WGC). The WGC noted that global demand reached a new record high.
As the report states, global central banks purchased a net 244 tons of gold in the first quarter of 2026, despite a notable surge in selling activity during the period. The most active buyers in November were the central banks of Poland (+31 tons) and Uzbekistan (+25 tons). Other buyers included Kazakhstan (+12 tons), China (+7 tons), the Czech Republic (+5 tons), Malaysia (+5 tons), Guatemala (+2 tons), Cambodia (+2 tons), and Indonesia (+2 tons). The central banks of Serbia and the UAE each added 1 ton.
Demand for gold bars and coins totaled 474 tons (+42%), marking the second-highest level on record.
Asian investors led the growth, increasing their investments in gold.
Purchases of gold-backed ETFs continued in the first quarter (+62 tons), but at a slower pace than a year earlier (+230 tons), following significant outflows from US funds in March.
The WGC report also notes that amid record-high gold prices, demand for jewelry remained under pressure and declined by 23% year-on-year, while total spending rose by 31%, indicating continued positive sentiment toward gold jewelry.
Demand for gold used in technology increased by 1% to 82 tons, largely driven by continued growth in artificial intelligence infrastructure.