Central Banks Add 130 Tonne Net to Gold Reserves in First Seven Months

Central banks continued to increase their gold reserves in 2026, but at a slower pace than last year. According to an analysis by Marsad Al Dahab, reported net purchases totaled approximately 130 tonnes since the start of the year through July, compared with about 160 tonnes in the first seven months of 2025.

The National Bank of Poland was the largest reported buyer, adding around 90 tonnes and bringing its holdings to nearly 640 tonnes. China ranked second, adding about 60 tonnes over the same period and taking its reported holdings to approximately 2,366 tonnes at the end of July.

However, not all central banks increased their gold reserves. Russia recorded net sales of around 50 tonnes from the start of the year through July, while Turkey sold about 85 tonnes. The World Gold Council estimates that official-sector net demand was around 345 tonnes over the same period.