Central Bank Gold Statistics: Central banks make positive headlines on gold
Central banks continued to accumulate gold in July 2026, led by China and Poland, despite a slight year-to-date decrease compared to 2025. The Bank of Korea also announced a new gold allocation strategy to hedge against inflation and geopolitical risks.
Why it matters
Central bank gold buying trends serve as a key indicator of global economic sentiment and efforts to diversify reserves away from traditional currencies.
Central banks continued their gold accumulation in July with net buying reported at 23t. Emerging markets have also continued to accumulate gold this month with China (20t) and Poland (8t) taking the lead ( Chart 1 ). Notably, activity from the People’s Bank of China (PBoC) has picked up pace in recent months, with double-digit monthly purchases of gold since May 2026. Russia was the top net seller this month, posting sales of 6t, followed by Turkey, Jordan and Uzbekistan at 1t each. On a y-t-d basis, central banks reported purchases have totalled around 130t of gold. This compares to a reported ~160t which was purchased over the same period last year.
Monthly reported central bank activity, tonnes*
*Data to 31 July 2026, where available. Source: IMF, respective central banks, World Gold Council
How, if at all, do you intend to change your custody arrangements over the next 12 months?
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