Central Banks Snap Up Record Gold Amid Price Crash

Central banks around the world bought a record 289 tonnes of gold in the second quarter of 2026, despite investors selling off their holdings due to a sharp fall from gold's January high.

The World Gold Council's Q2 2026 Gold Demand Trends report shows that central banks and official institutions added 288.9 tonnes in the quarter, up 62% from a year earlier.

Poland was the largest reported buyer, adding 51 tonnes to its holdings of 632 tonnes by the end of June, while China's People's Bank of China added 33 tonnes to its stockpile of 2,346 tonnes.

The World Gold Council's survey found that 74% of central banks expect the dollar's share of global reserves to fall over the next five years, and nearly half (45%) expect their own gold reserves to rise over the next 12 months.