Global gold demand reached $188 billion in the third quarter of 2026, up 22% from a year earlier, while the physical volume bought fell 1%. Central banks acquired an estimated net 321 tons, compared with 313 tons consumed as jewelry, while gold-backed exchange-traded funds added 211 tons. Jewelry sales fell 17% and demand for bars and coins dropped 19%, as the average quarterly price rose 23%. In October, gold lost 6.3% to finish at $3,913 an ounce, roughly 25% below its January peak, while Bitcoin fell 7.3% after gaining 42.7% in the third quarter.
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