Wealth Managers Remain Upbeat On Gold

Amanda Cheesley

13 August 2026

After gold rose to its highest level in seven weeks, , an industry group of gold mining companies, Chinese jewellery demand fell by 32 per cent year-on-year in the first quarter of 2026. Demand for bars and coins rose by 67 per cent to a quarterly record of 207 tonnes. For the first half of the year, the WGC saw plentiful bullion demand but weak jewellery consumption. Demand also shifted in India during the first quarter: jewellery demand fell by 19 per cent, while bar-and-coin demand rose by 34 per cent to 62 tonnes.

UBS thinks that investors should separate near-term trading risk from the longer-term investment case. In fact, periods of weakness towards $4,000/oz or below could ultimately prove to be opportunities for building exposure. For investors with an affinity for real assets, the bank thinks a mid-single-digit gold allocation is appropriate in a well-diversified portfolio. Investors could also consider a broad exposure to commodities for better portfolio diversification, the bank added.

See more about the precious metal here.