Gold demand in the second quarter of 2026 remained stable year-on-year at 1,269 tonnes, driven by robust central bank purchases that offset a decline in ETF demand, according to FX Street. This balance helped maintain overall gold consumption despite shifts in investment patterns.
The steady demand highlights the continued strategic role central banks play in gold markets, especially as ETF investors showed less appetite during the period. ING’s analysis underscores the importance of central bank activity in supporting gold prices and demand levels.
For Japanese investors, this stability in gold demand is significant as it reflects ongoing central bank confidence in gold as a reserve asset, which could influence domestic gold-related financial products and hedging strategies amid global market uncertainties.