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World Gold Council

Gold: The most effective commodity investment − 2026 edition

Gold is not a typical commodity. Its unique supply-and-demand dynamics, limited exposure to roll costs, diversification benefits and resilience across market environments set it apart from the broader commodity complex.

Gold Demand Trends: Q2 2026

The gold price average in Q2 was 8% lower than the Q1 record, but 37% higher than the average from Q2 2025. Total gold supply held steady with an increase in mine production offset by a decline in recycling as lower prices discouraged selling of old gold jewellery.

Gold mid-year outlook 2026: Point break

The first half of 2026 showed that gold remains sensitive to heightened geopolitical concerns and abrupt shifts in investor sentiment. It also showcased the growing relevance of Asian markets in gold price discovery.

Gold Demand Trends: Q1 2026

Total Q1 gold demand saw a modest 2% growth y/y. The growth in volumes combined with gold’s exceptional price rise, generated a 74% jump in the value of quarterly demand to a record US$193bn.

Australia's macro shifts and the case for gold

Australia’s economy continues to grow but resurgent inflation and the RBA’s decision to resume tightening raises questions around portfolio allocations. Australia's unique geopolitical positioning, with fortunes tied to Indo-Pacific trade partners while being strategically aligned with the US, has created an asymmetry that makes portfolio diversification crucial.

Gold as a strategic asset: 2026 edition

Gold has a key role as a strategic long-term investment and as a mainstay allocation in a well-diversified portfolio. Investors have been able to recognise much of gold’s value over time by maintaining a long-term allocation and taking advantage of its safe-haven status during periods of economic uncertainty.

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Investment strategies

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Investment strategies

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