News about World Gold Council

Gold and silver fell sharply as investors weighed the U.S. midterm elections, Middle East tensions and a rebound in oil prices; SLV dropped 3.2% to its lowest in nearly 52 weeks, while GLD slipped over 1.1% in pre-market trading. January 2027 gold futures fell 1.4% to $3,929.80 per ounce, and silver contracts due in January 2027 dropped 3.8% to $49.20 per ounce. Saxo Bank's Ole Hansen said gold was sold again near $3,970 an ounce, a former support level that has become resistance, pointing to fragile sentiment. KCM Trade's Tim Waterer said a convincing move above $4,000 an ounce would signal improving momentum, and warned that a tech selloff driven by regulatory pressure could spill over into gold as positions are cut to cover losses. The World Gold Council cut its 2026 full-year gold investment demand forecast to 200 metric tons from 400 MT, as demand for bars and coins fell 19% in the third quarter.

Central banks bought 321 tonnes of gold in Q3 2026, above recent typical quarterly levels, lifting their year-to-date purchases to 675 tonnes, up 6% year-on-year, according to the World Gold Council (WGC). Overall gold demand fell 1% year-on-year to 1,369 tonnes in Q3, as high prices weighed on jewellery (down 17% to 313 tonnes) and bars and coins (down 19% to 268 tonnes). Gold ETFs reversed Q2 outflows with 211 tonnes of inflows, which the WGC linked to concerns over fiscal sustainability and inflation. On the supply side, mine production rose 3% to a Q3 record of 1,071 tonnes, while recycling fell 8% to 314 tonnes, its lowest level in three years. The WGC expects central bank buying to at least match 2025 levels.

Central banks bought 321 tonnes of gold in the third quarter of 2026, well above recent typical quarterly levels, bringing their year-to-date purchases to 675 tonnes, up 6% year-on-year, according to the World Gold Council (WGC). The WGC expects central bank buying to at least match 2025 levels. Total gold demand, including OTC investment, fell 1% to 1,369 tonnes in Q3, though year-to-date demand of 3,881 tonnes nearly matched the 2025 record of 3,884 tonnes, and reached a record USD 566 billion in value. Gold ETFs added 211 tonnes after outflows in Q2, while bar and coin demand fell 19% to 268 tonnes and jewellery demand dropped 17% to 313 tonnes, the weakest third-quarter level in the WGC's data series. Mine output rose 3% to a third-quarter record of 1,071 tonnes, but recycling fell 8% to 314 tonnes, its lowest in three years.

According to the World Gold Council, central banks bought 321 tonnes of gold in Q3 2026, lifting their year-to-date purchases to 675 tonnes, up 6% year on year, and the WGC expects their buying to at least match 2025 levels. Gold ETFs added 211 tonnes after outflows in Q2, while bar and coin demand fell 19% to 268 tonnes and jewellery demand fell 17% to 313 tonnes amid high prices. Total Q3 gold demand fell 1% to 1,369 tonnes, but year-to-date value reached a record USD 566 billion. Mine production rose 3% to 1,071 tonnes, a third-quarter record, while recycling fell 8% to 314 tonnes, its lowest in three years.