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Macro Score 55 Bullish

Central Bank Gold Reserves Surge as Q1 Purchases Hit One-Year High

Apr 29, 2026 06:00 UTC
GC=F, XAUUSD
Medium term

Global central banks accelerated gold acquisitions in the first quarter of 2026, totaling 244 tons. The buying spree was primarily driven by a dip in prices, with Poland, China, and Uzbekistan leading the accumulation.

  • Q1 net purchases totaled 244 tons
  • Increase from 208 tons in the previous quarter
  • Poland, Uzbekistan, and China identified as primary buyers
  • Price declines acted as a catalyst for increased buying
  • Fastest accumulation pace in over 12 months

Central banks have significantly ramped up their gold reserves, recording the fastest pace of accumulation in over a year during the first quarter of 2026. This trend highlights a strategic shift in sovereign reserve management amid global economic uncertainty. According to estimates from the World Gold Council, net official-sector purchases reached 244 tons in the three-month period. This represents a notable increase from the 208 tons acquired in the preceding quarter, signaling a renewed appetite for the precious metal among global monetary authorities. The surge in buying was largely catalyzed by a slump in gold prices, which provided an attractive entry point for several institutions. While some purchases remained undeclared, Poland, Uzbekistan, and China were identified as the most aggressive buyers during this window. From a market perspective, this sustained demand from central banks provides a structural floor for gold prices. By increasing gold allocations, these institutions are effectively hedging against currency volatility and diversifying away from traditional reserve assets.

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