Andrey Litvinov

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.

The year 2025 marked a turning point for the global silver market—a moment when years of structural imbalance finally translated into visible stress across supply chains, inventories, and prices. After multiple consecutive deficits, the shortage of readily available metal began to reshape market behavior in a dramatic way.