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Central Banks Add 41 Tonnes of Gold in May as Record 45% Plan to Buy More
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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.
Key facts
- 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
- Poland has accumulated 64 tonnes in 2026 alone, making it the year’s largest gold buyer as it works toward a publicly stated 700-tonne target
- China has added 25 tonnes year-to-date, bringing its official holdings to 2,331 tonnes, or about 9% of its total reserves
- Lastly, Goldman Sachs sees 20% upside for gold in 2026, while Devere Group chief executive Nigel Green has argued the metal’s relentless rally has sparked fresh doubts about the Federal Reserve’s
Summary
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. The World Gold Council (WGC), the industry body that tracks official sector bullion flows, detailed the May activity in a research note authored by Marissa Salim, the council’s senior research lead for the Asia-Pacific region.