Central Banks Rush to Buy Gold Amid Market Volatility
Central bank gold demand rebounded in Q2 2026 after a weak Q1 performance, according to the World Gold Council (WGC). The institutions registered a sharp increase in gold purchases, reaching a period record of 288.9 tonnes, a 62% jump compared to the same period in 2025.
The largest buyer was the National Bank of Poland, which acquired 51 tonnes, and also includes sales from Turkey and Russia, accounting for only 345t overall central bank gold demand, the lowest since 2022. The People's Bank of China purchased the most since Q4 2023, with its reported reserves reaching 2,346 tonnes.
WGC's Central Bank Gold Reserves Survey anticipates that gold purchases will continue to gain momentum later this year, with 89% of central bankers expecting gold reserves to increase in the next 12 months.