FinanceGold Market Dynamics: Q2 Review and H1 Trends
The second quarter witnessed a notable softening in gold prices, with the LBMA (PM) gold price averaging US$4,506.29/oz, an 8% decrease from the first quarter's peak. However, this figure still represents a substantial 37% increase compared to the same period in 2025. Global gold jewelry demand experienced a significant decline, recording one of its weakest second quarters in recent history. Similarly, investment outside of OTC markets contracted due to outflows from gold ETFs and reduced bar and coin demand. Despite these shifts, net purchases remained healthy, totaling 289 tons in Q2. Conversely, industrial applications for gold saw a modest rise of 2% year-over-year, reaching 80 tons.