7.2.26 - Central banks remain committed to gold

7.2.26 - Central banks remain committed to gold

Gold last traded at $4,123 an ounce. Silver at $60.91 an ounce.

Central bank gold statistics: Central banks remain committed to gold -Gold.org

Central banks were back in buying mode in May - and with a little more spring in their step. Based on the latest reported data, official gold reserves increased by a net 41t during the month, with purchases once again concentrated among a familiar cast of buyers 

Much of the activity was driven by Poland (18t) and China (10t), with Uzbekistan and Kazakhstan also continuing their monthly net gold buying activity. Singapore also rejoined the list of buyers, reporting a net purchase of 4t, its first monthly net purchase since September 2025. Meanwhile, net sellers for the month were Turkey (3t) and Russia (6t) with y-t-d sales of 81t and 34t respectively.

Year-to-date, Poland has accumulated 64t of gold, followed by Uzbekistan and China at 33t and 25t respectively. Kazakhstan, a close fourth, has accumulated 20t y-t-d.

Despite the recent developments, central bankers remained positive on the role of gold in their reserves. As published in our ninth Central Bank Gold Reserves Survey 2026, 89% of central bankers expect global gold reserves to increase in the next 12 months. Meanwhile, a record high 45% of central bankers expect their own institution's gold reserves to increase over the next 12 months