Gold demand is set to rise further this year:

Global gold demand is projected to rise to a record ~4,900 tonnes in 2026, marking the 2nd-consecutive annual increase.

Jewelry demand is expected to rise by +100 tonnes, to ~1,700 tonnes, the highest since 2024.

World central bank purchases are estimated to come in at a historically high ~1,000 tonnes.

Physical-backed gold ETFs are expected to record ~900 tonnes in net inflows for the 2nd-consecutive year.

Meanwhile, bar and coin demand is expected to remain steady at ~1,300 tonnes.

The world cannot get enough gold.

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