Stored, Safe and Spendable: How Technology is Changing Gold Ownership
Gold has long been treated as a store of value, often leading to selling the metal to generate cash from it. Digital ownership and payment technology are reshaping that idea.
Demand data from the World Gold Council (WGC) shows that investors continue to accumulate gold as a long-term holding. Global bar and coin investment reached an exceptional 477 metric tons in the first quarter of 2026 before settling at 307 metric tons in the second, in line with the five year quarterly average of 305 metric tons.
Digital gold remains a small part of the picture. The market is valued at US$45 billion to US$55 billion, and represents roughly 370 metric tons of gold, equal to about 0.4 percent of the US$13 trillion physical investment gold market.
A study by the WGC and Boston Consulting Group (BCG) estimates that digital gold could unlock up to US$700 billion in additional demand. Providers like OneGold are responding to that opportunity by making gold easier to hold, ranging from vaulted ownership to 24/7 access to insured gold.
Gold’s long game
Gold investment is expected to remain the primary driver of growing demand. This is attributed to the yellow metal’s established role as a portfolio diversifier and store of value.
Gallup’s 2026 survey results show that 18 percent of Americans named the yellow metal the best long-term investment. Goldman Sachs (NYSE:GS) analysts forecast that private investors who secured gold to protect against macro and policy uncertainty are likely to keep holding their assets.
Still, holding gold is different from tapping its value. Dealers sell metal above — and buy it back below — the spot price, a gap known as the spread and is a cost of every exit. Using the value of physical gold has therefore generally meant selling the metal below spot and moving the proceeds into cash before they can be spent.
Complications surrounding physical ownership also remain. Coins and bars need secure storage and insurance, and metal kept in a home safe or bank deposit box is typically uninsured.
Storage and administrative fees can also add to the cost of holding metal. Digital ownership grew out of these frictions, with the current market formed by 89 percent vaulted digital gold and 11 percent tokenized gold.
Vaulted ownership offers professional custody in place of direct possession of the metal. Tokenized ownership works differently. Each digital token on a blockchain represents a full or fractional claim on physical gold stored in a secure vault.
Developments in the digital gold market
The digital gold market is projected to grow to US$160 to US$170 billion by 2031, about 27 percent a year. Smaller minimums, simpler transactions and mobile access are attracting younger investors.
WGC found that digital gold penetration is up to seven times higher in familiar channels such as super apps, payment platforms and…
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