The World Gold Council (WGC) reported that central banks purchased a record 289 tonnes of gold in Q2 2026. This volume represents the highest second-quarter total on record. Buying increased more than five-fold from the revised 57 tonnes recorded in the first quarter.
This record demand occurred as gold prices fell approximately 16%, the sharpest quarterly decline since 2013. Poland led the purchases with 51 tonnes, followed by China with 33 tonnes. These counter-cyclical acquisitions suggest a structural shift in global reserve management. Official institutions are prioritizing long-term strategic assets over short-term price movements.