Central Banks Fuel Record Gold Buying Spree

The World Gold Council's latest data reveals that central banks have been buying gold at an unprecedented rate. In the second quarter of 2026, they added a net 288.9 tonnes of gold, a 62% jump from the same period last year and the largest second-quarter total ever recorded in the industry body's data history.

Poland emerged as the quarter's most aggressive buyer, adding 51 tonnes to its reserves. China also increased its gold holdings by purchasing 33 tonnes, marking its largest single-quarter acquisition since late 2023.

The buying spree is not limited to these two countries alone. Uzbekistan and Kazakhstan have also been increasing their gold reserves in the first half of this year. Even South Korea has changed course, with the Bank of Korea planning to increase its gold exposure through ETFs and preparing for its first physical purchase in 13 years.

The World Gold Council's survey of reserve managers shows that a record 89% of respondents expect global central bank gold reserves to rise over the next twelve months. This suggests that the structural forces driving the demand are likely to continue, making gold an attractive asset for investors.