Central Banks Continue Gold Buying Spree in August 2026

Central banks continued their aggressive gold-buying trend in August 2026, with China, Uzbekistan, and Poland leading the way. According to Marissa Salim, Senior Research Lead for APAC at the World Gold Council, global central banks added a net 39 tonnes of gold to their reserves during the month. The largest purchases came from Poland, which bought 8 tonnes, bringing its year-to-date total to 98 tonnes. China also made significant additions, purchasing 20 tonnes in August, marking its 22nd consecutive month of buying.

Poland remains the top buyer so far in 2026, with its 98 tonnes purchased year-to-date putting it on track to reach its 700-tonne target soon. China follows closely with 80 tonnes year-to-date, now holding 2,387 tonnes of gold, or 9% of its total reserves. Uzbekistan and Kazakhstan also made notable purchases, with Uzbekistan buying 8 tonnes in August and Kazakhstan purchasing 7 tonnes.

Other central banks active in the market included the Czech National Bank, which extended its 42-month streak of monthly purchases with 2 tonnes added in August. Turkey, which had been selling gold for three consecutive months, bought 3 tonnes in August. On the selling side, Russia continued its net liquidations, selling 6 tonnes in August, while Jordan sold 3 tonnes.

In addition to purchases, Salim highlighted significant transfers of sovereign gold between jurisdictions. De Nederlandsche Bank recently transferred 86 tonnes of gold from New York and Ottawa to London to improve liquidity and tradability. The Banque de France conducted a similar operation in 2025.