Central banks buy 321 tonnes of gold in third quarter
Global central bank gold purchases rose in the July-September quarter, even as high prices impacted jewellery and coin demand, according to the World Gold Council.
Central banks purchased 321 tonnes of gold during the third quarter of 2026, according to a report by the World Gold Council (WGC). This brings their total purchases for the year to 675 tonnes, representing a 6 per cent increase compared to the previous year, ANI reported.
The WGC stated that these purchases were significantly higher than recent quarterly levels. The organisation expects central bank buying to at least match the levels seen in 2025 following the stronger-than-expected activity in the July-September period.
Global gold demand, which includes over-the-counter investment, dropped by 1 per cent year-on-year to 1,369 tonnes in the third quarter. However, the cumulative demand for the first nine months of 2026 reached 3,881 tonnes, nearly matching the 2025 record of 3,884 tonnes.
In India, gold demand fell 29 per cent year-on-year to 162.5 tonnes during the same quarter, according to The New Indian Express. Despite the lower volume, the value of Indian gold demand rose 3 per cent to Rs 2,419 billion.
The WGC Regional CEO for India, Sachin Jain, said the July-September quarter showed continued resilience in Indian gold demand despite elevated prices. He noted that consumers are adapting their purchases to balance affordability with long-term value.
On the supply side, gold mine production grew 3 per cent year-on-year to 1,071 tonnes. Meanwhile, total gold supply saw a 1 per cent decline to 1,369 tonnes during the quarter.