# World Gold Council Q2 2026 gold demand holds steady at 1,269 tonnes

**Published:** 2026-08-05T15:53:46.927Z  
**Topic:** Gold  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/35ecf9a4-1f8c-4b36-af99-3a5d4d940141

World Gold Council reports Q2 2026 gold demand unchanged y/y at 1,269 t, total H1 demand up 2% to 2,522 t and a record $380 bn value – see the impact on

Gold demand for the second quarter of 2026 stayed flat year‑on‑year at 1,269 tonnes, keeping the first‑half total at 2,522 tonnes—a 2 % rise versus the same period last year and delivering a record $380 bn in value [1].

| At a glance | |
|---|---|
| Q2 demand | 1,269 t (0 % y/y) |
| H1 demand | 2,522 t (+2 % y/y) |
| Value | $380 bn (record) |
| ETF flows H1 | +$12 bn net inflow Asia, –$7.7 bn net outflow North America [1] |

## Demand and value trends  
The World Gold Council’s quarterly data show that while Q2 demand did not grow, the cumulative six‑month figure rose modestly, driven largely by Asian investors. The $380 bn valuation marks the highest ever recorded, underscoring gold’s appeal as a safe‑haven asset amid broader market volatility. The unchanged Q2 demand contrasts with the 2 % H1 increase, indicating that the early‑year surge—fuelled by record price spikes above $5,500/oz in January—has largely plateaued.

## ETF flows and regional dynamics  
Physically backed gold ETFs recorded a net outflow of $8.9 bn in June, pulling the H1 net inflow down to $8 bn after a strong start. The outflow was concentrated in North America, which posted a $7.7 bn net withdrawal, while Asia delivered its strongest H1 inflow on record at $12 bn [1]. These flows suggest a shift in investor sentiment: Asian markets remain bullish on gold, whereas North American participants are trimming exposure after the early‑year rally.

## Market implications  
Gold’s price trajectory—rising to a record intraday high above $5,500/oz in January before retreating to around $4,000/oz by late June—has left the metal down roughly 7 % year‑to‑date, yet it still ranks among the top performers over the past 12 months [1]. The combination of steady demand, record‑high valuation, and divergent ETF flows points to a market where gold retains its hedge function, especially for Asian investors, while North American investors may be reallocating amid a broader risk‑on environment.

## What to watch
- Upcoming central‑bank gold holdings survey results, scheduled for the next quarter, which could signal further demand shifts.  
- Gold price movements around the $4,500/oz level, a potential support zone that may influence future ETF inflows/outflows.  
- The release of the World Gold Council’s H2 demand report, expected in late 2026, to confirm whether the early‑year demand plateau persists.

The flat Q2 demand figure, paired with a record‑high valuation, highlights gold’s continued relevance as a strategic asset, but the regional split in ETF flows suggests that investor confidence may be diverging across markets.

## Sources
1. Gold — [World Gold Council | The Authority on Gold](https://www.gold.org/)
2. Gold — [About Us - World Gold Council](https://www.gold.org/about-us)
3. Gold — [Gold Price Performance & Data | World Gold Council](https://www.gold.org/goldhub/data)
4. Wikipedia — [World Gold Council](https://en.wikipedia.org/wiki/World_Gold_Council)
5. China — [Gold Spot Price and Cost of Gold | World Gold Council](https://china.gold.org/node/6485)
6. Grokipedia — [World Gold Council](https://grokipedia.com/page/World_Gold_Council)

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Cite as: TrendWatcher, "World Gold Council Q2 2026 gold demand holds steady at 1,269 tonnes", https://www.trendwatcher.in/article/35ecf9a4-1f8c-4b36-af99-3a5d4d940141