Gold generated a record $566 billion in global demand value from January through September, the World Gold Council said Nov. 3, while the amount of gold bought in the third quarter fell slightly from a year earlier.
The council counted 3,881 tons of demand in the first three quarters, including over-the-counter transactions. From July through September, demand totaled 1,369 tons, 1% below the third quarter of 2025. The record value came alongside a modest decline in quarterly volume.
Jewelry purchases fell 17% year over year to 313 tons, the weakest third-quarter result in the council’s historical records. The council said elevated prices weighed on consumer interest. Jewelry demand was still worth $43 billion, up 2% from a year earlier. Bar and coin purchases dropped 19% to 268 tons as buyers waited for a clearer price direction.
Regional figures showed jewelry demand in India fell 20% to 100 tons. U.S. purchases declined 18% to 21 tons, while European demand slipped 11% to 11 tons. Türkiye saw a 4% drop to 7 tons. Gold use in the technology sector rose 3% as growth in artificial intelligence component manufacturing outweighed pressure from high prices, the council said.
Central banks purchased 321 tons in the third quarter, above recent quarterly averages. Their purchases reached 675 tons from January through September, 6% higher than in the same period of 2025.
Global gold exchange-traded funds added 211 tons in the third quarter after losing holdings in the previous quarter. The council linked the additions to concern about fiscal sustainability and persistent inflation. It also reported $10 billion in global gold ETF inflows in September, a monthly figure covered in earlier reporting on gold ETF flows.
The council expects investor interest to support overall market growth in 2026 and official purchases to reach at least 2025 levels.
