World Gold Council: Q1 2026 Gold ETF Inflows Reach 62 Tonnes

The World Gold Council’s Q1 2026 Global Gold Demand Trends Report showed that global physical gold ETFs maintained net inflows during the first quarter, with holdings increasing by 62 tonnes, though the performance fell short of the stronger 230-tonne inflow recorded in Q1 2025. March saw significant outflows from US-based funds, reversing the robust inflow momentum established at the start of the year.

Regional Flow Dynamics

Asian investors drove substantial demand, purchasing 84 tonnes of gold ETFs during Q1 2026. In contrast, Western markets experienced modest declines in holdings during the period. The divergence between regions reflected differing investment sentiment, with Western market outflows in March particularly dampening overall quarterly results.

Jewelry Consumption Trends

Global jewelry consumption demand declined 23 percent year-over-year to 300 tonnes in Q1 2026, as elevated gold prices suppressed transaction volumes across major markets worldwide. However, when measured by spending value rather than volume, jewelry demand showed growth, indicating that consumer purchasing intent for gold jewelry remained resilient despite prices trading at historically elevated levels.