According to the World Gold Council (WGC), global gold production in the second quarter of 2026 reached a record 966 tonnes, the highest level for the reporting period since 2000.
Gold production in the second quarter of 2026 exceeded the previous record of 948 tonnes recorded in the second quarter of 2025, by almost 2%. Production volumes increased by 7% compared to the previous quarter, mainly due to seasonal factors.
According to the WGC report, significant annual increases in production in the second quarter were recorded in Canada (+29%), Chile (+24%), Burkina Faso (+17%) and Ghana (+8%).
However, production volumes in a number of countries decreased in the second quarter due to safety and geological factors. Thus, a decline in production was recorded in Nicaragua (-33% year-on-year), Mexico (-23%), the United States (-12%) and China (-8%).
Global demand for gold jewelry in the second quarter of 2026 decreased by 17% compared to the second quarter of 2025 to 278 tons, according to data from the World Gold Council (WGC). This is explained by high prices, which limit availability and encourage consumers to reduce purchases.
In the first half of the year, global demand for jewelry in monetary terms increased by 22% year-on-year to reach $86 billion. This shows that although high prices are limiting sales, consumer spending remains significant, especially in regions where gold jewelry serves as a store of value and wealth preservation.
In China, demand for gold jewelry fell by 28% year-on-year in the second quarter, reaching its lowest level in the second quarter since 2004. This was due to seasonality, a general weakening in consumer demand and the impact of high and volatile prices. In monetary terms, spending increased by 11% to $21 billion in the first half of the year.
India’s jewellery demand fell 15% year-on-year in the second quarter to 75 tonnes, the lowest level in the second quarter since the start of the pandemic. In the first half of the year, demand fell 17% year-on-year to 141 tonnes, but in monetary terms it increased 26% to $21 billion.
In the Middle East, demand for gold jewellery also remained weak due to high prices. In Saudi Arabia, demand fell 8% year-on-year. In Egypt, demand fell 14% due to inflation and exchange rate volatility. In the UAE, demand fell for the 14th consecutive quarter. Turkey continued to struggle due to high inflation.
In Indonesia, annual sales declined for the 13th consecutive quarter as consumers facing difficult economic conditions increasingly preferred jewelry with lower precious metal content. Vietnam also recorded the largest annual sales decline in the region (-28%). Japan remained one of the most resilient jewelry markets, while the Republic of Korea was an exception, showing moderate growth in jewelry demand (+6% year-on-year). In Australia, jewelry demand declined in line with global trends as high prices curbed discretionary spending.