Baku:In the third quarter of 2026, global gold demand, including the over-the-counter (OTC) market, experienced a slight decrease of 1% year-on-year to 1,369 tons, as reported by the World Gold Council.

According to Azeri-Press news agency, global gold demand reached 3,881 tons from January to September, nearly matching the record 3,884 tons recorded in 2025. The value of gold demand hit a record high of USD 566 billion during this period.

Central bank gold purchases saw a significant uptick in the third quarter, reaching 321 tons, surpassing typical quarterly purchase volumes of recent periods. From January to September, these purchases totaled 675 tons, marking a 6% increase from the same time last year.

Gold-backed exchange-traded funds (ETFs) experienced renewed inflows following net outflows in the second quarter, with holdings increasing by 211 tons in the third quarter. These inflows are attributed to growing concerns about public finance sustainability, inflation, and other contributing factors.

Meanwhile, investors in gold bars and coins exhibited caution, with global demand in this segment dropping by 19% year-on-year to 268 tons. Jewelry demand also declined, falling by 17% year-on-year to 313 tons, marking the lowest third-quarter figure on record. Despite high prices limiting demand across markets, the value of jewelry demand rose by 2% year-on-year to USD 43 billion.

In contrast, the technology sector's use of gold increased by 3% year-on-year in the third quarter, driven by rising demand from artificial intelligence-related manufacturing industries, which offset the limiting effects of high gold prices.