Central Bank Gold Buying Rebounds Strongly in Q2 2026

Central Bank Gold Buying Rebounds Strongly in Q2 2026

By BestGold Editorial Team · Published on August 31, 2026

Central banks showed strong demand of gold in Q2 2026, purchasing around 289 tonnes, a 62% increase compared with the same period last year. Poland and China were among the major buyers. This continued buying shows that central banks still see gold as an important asset for diversifying reserves and protecting against economic and geopolitical uncertainty.

Gold's Reserve Demand Broadens Beyond Fed-Driven Price Swings

Central banks bought 288.9 tonnes of gold in Q2 2026, a 62% increase year-on-year. Buying was spread across Poland, China, Uzbekistan, and Kazakhstan, showing that demand is not dependent on just one or two countries.

Central Banks Remain Committed to Gold

Central banks continued to show strong interest in gold in 2026. In May, they added 41 tonnes of gold to their reserves, with Poland and China among the notable buyers. This reflects continued demand for gold as a way to diversify reserves and protect against economic and financial uncertainty.

The broader outlook is also positive: the World Gold Council’s 2026 survey found that 89% of central banks expect global gold reserves to increase over the next 12 months.

Gold Is Forecast to Climb as Central Banks Buy

Goldman Sachs expects gold prices to reach $4,900 per ounce by the end of 2026, up from around $4,600 in late August. The positive outlook is mainly supported by strong central-bank purchases, as countries continue to diversify their reserves and protect against geopolitical and financial risks.

Goldman Sachs expects central banks to buy an average of 50 tonnes of gold per month in 2026, compared with 17 tonnes per month before 2022. Lower expectations for U.S. interest-rate increases could also support gold demand.

Conclusion

Gold continues to attract strong demand from central banks and investors. Despite possible short-term price fluctuations, the combination of strong demand, reserve diversification, economic uncertainty, and investor confidence suggests that gold remains a valuable long-term asset with a positive market outlook.