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Central Banks Target Record Gold Buys Despite High Interest Rates
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World Gold Council survey reveals 45% of central banks plan to boost reserves as bullion drops to its lowest since November, drawing buyers back in.
Key facts
- According to the latest Central Bank Gold Reserves 2026 (CBGR) survey, conducted by the World Gold Council (WGC) and YouGov between 5 February and 19 May, a record 45% of respondents expect to increase their gold reserves over the next 12
- The data showed that 9% of central banks increased their domestic storage over the past year, while 10% diversified their overseas vaulting locations, up from 5% and 2%, respectively, in 2025.
- This structural pivot has triggered a notable drop in preference for traditional financial sanctuaries; the Swiss National Bank saw its custodian preference cut in half, falling to 6% this year from 12% in 2025.
- Conversely, only 1% of institutions anticipate a reduction in their holdings.
- Global central banks are planning to accelerate their gold accumulation to historic highs, indicating that official sector demand remains a critical pillar of support for the precious metal despite recent price corrections.
- The surge in sentiment is heavily concentrated in emerging markets and developing economies, where 53% of central banks expect to expand their gold holdings, compared to just 18% of their peers in advanced nations.
Summary
Global central banks are planning to accelerate their gold accumulation to historic highs, indicating that official sector demand remains a critical pillar of support for the precious metal despite recent price corrections.
According to the latest Central Bank Gold Reserves 2026 (CBGR) survey, conducted by the World Gold Council (WGC) and YouGov between 5 February and 19 May, a record 45% of respondents expect to increase their gold reserves over the next 12 months.