The World Gold Council revealed that central banks globally bought only 57 tonnes of gold in the first quarter, which was 187 tonnes below earlier estimates and the lowest level in over a decade. As a result, central bank gold purchases for the full year 2026 are expected to fall short of 2025 levels, even though demand rebounded strongly in the second quarter with net purchases totalling 289 tonnes, a record high for a second quarter. The largest buyer in the second quarter was Poland, with 51 tonnes, while China added another 33 tonnes. Meanwhile, investment and consumer demand weakened, with gold-backed ETFs seeing net outflows of 45 tonnes. Bar and coin demand fell 3 percent to 307 tonnes, and jewellery demand dropped 17 percent to 278 tonnes, the lowest in several years.