Central Banks' Record Gold Buying Spree Fuels Price Support
Central banks have made their largest quarterly gold purchase in over two years, adding 289 tonnes of the precious metal to their reserves in the second quarter of 2026. This surge in buying is a significant increase from the same period last year, with central banks purchasing 62 tonnes more gold this time around.
The latest data shows that total purchases for the quarter were up 231 tonnes compared to the previous three months, a staggering 407% jump. Poland led the pack, buying 82 tonnes and now holding a record 632 tonnes of gold in their reserves.
Central banks' continued interest in gold is seen as a sign that governments are diversifying their assets and reducing their reliance on the US dollar. The steady demand from these institutions helps to support the price of gold, acting as a buffer when other buyers pull back.