Andrey Litvinov

The global gold market is being driven not only by prices and central banks, but increasingly by psychology, geopolitics and public fear. Three very different stories published over the past weeks — Kosovo buying gold for the first time in its history, India urging citizens to stop purchasing gold during the energy crisis caused by the Iran war, and the surprising revival of America’s modern “gold rush” culture — together reveal how deeply the metal has returned to the center of economic imagination.

The latest data from the World Gold Council for the first quarter of 2026 offers far more than a routine snapshot of the gold market. It reveals a structural shift in how gold is being used, valued, and integrated into the global financial system.

Gold has always occupied a paradoxical position in global finance. It is at once a relic and a cornerstone, a commodity and a monetary asset, a hedge and a source of liquidity. Recent developments in 2026 have brought this paradox into sharp focus.