Central Banks Rethink Gold Storage Strategies Amid Rising Demand and Geopolitical Risk

London remains the dominant gold storage location for central banks, but its share has fallen to 57% from 64%. The Bank of England's vaults contain about 400,000 gold bars across nine underground vaults.

Central banks now prioritize control and access, with 9% increasing domestic gold storage and 10% diversifying overseas locations in the past year. This shift reflects a desire for direct control over their reserves during crises.

The World Gold Council's 2026 Central Bank Gold Reserves Survey found that 57% of surveyed central banks use the Bank of England, while 49% have gold at home. France and India are two examples of countries repatriating gold to domestic vaults for greater control.