Central banks added a net 41 tonnes of gold to official reserves in May, World Gold Council data published July 2 shows, extending a buying wave that has averaged 1,000 tonnes a year over the past four years. A record 45% of reserve managers expect their own institutions to add more within the next 12 months.
Key Takeaways:
Poland bought 18 tonnes of gold in May 2026, lifting its reserves to 614 tonnes as it chases a 700-tonne goal.The WGC found 89% of central bankers expect global official gold holdings to keep climbing into 2027.The Czech National Bank has bought gold for 39 straight months, while the Bank of Korea weighs ETF allocations.Not every institution was a buyer as Turkey trimmed 3 tonnes in May and Russia sold 6 tonnes, leaving Moscow with 2,292 tonnes after 34 tonnes of disposals this year. Those sales, however, were dwarfed by demand elsewhere, given the Czech National Bank has now recorded 39 consecutive months of net purchases, one of the longest active streaks among monetary authorities.
A Structural Break From the Last Decade
