Rising gold demand amid tensions
Gold demand in the first half of 2026 increased by 2%, reaching 2,522 tons valued at approximately $380 billion. This growth was driven by geopolitical tensions related to Iran and the Middle East, which boosted demand as a safe haven. Central banks expanded their gold reserves by 62% compared to last year, with 45% of them planning to increase their holdings over the next 12 months. Despite recent declines in investment through funds and bars, it is expected that investment demand will lead the rebound. Gold continues to record monthly gains of over 1%, with prices surpassing $4,050 per ounce. It is anticipated that the price per ounce may approach $5,000 by the end of the year due to ongoing tensions and changes in global monetary policies.
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