Central banks have ramped up their gold purchases to the fastest pace since the end of 2024, according to the latest report from the World Gold Council (WGC). In the third quarter of this year, these institutions acquired a net 321 tons of gold, despite challenges from rising oil prices and higher interest rates.
The WGC's report, released on Tuesday, highlights that this surge in buying has brought the year-to-date total to 675 tons. This figure slightly surpasses the same period last year, marking a notable recovery after a sluggish start to 2026.
The data underscores the enduring appeal of gold as a strategic asset for central banks, even amid economic pressures. The metal's role as a hedge against inflation and currency fluctuations continues to drive demand, particularly in an uncertain global economic landscape.