- Central banks purchased a record 289 tonnes of Gold worth $47.38 billion in the second quarter of 2026, according to the World Gold Council.
- Poland led the buying spree with 51 tonnes, followed by China adding 33 tonnes, as the US dollar loses its dominant reserve status.
- Gold prices dipped 14% from January highs, creating a buying window; one analyst projects a potential rally above $10,000 if US national debt remains unchecked.
Central banks worldwide bought a record 289 tonnes of gold in Q2 2026, worth a total of $47.38 billion, according to the World Gold Council. The buying spree accelerated as institutions diversified reserves away from the US dollar, which is no longer the dominant asset.
Poland remains the top buyer after accumulating 51 tonnes, while China added 33 tonnes during the quarter. The XAU/USD index fell nearly 14% from January highs, offering a buying window that central banks exploited.
“Central banks made significant gold purchases in Q2 (289t). After a notable Q1 slowdown following a downward revision to our data, buying among this cohort recovered sharply to the lofty levels that have been typical in the last four years,” the council reported. The frenzy began in 2022 after the US imposed sanctions on Russia, and the gold index has since risen more than 150%.
Consequently, gold faced a 14% correction over the past six months. John LaForge, chief alternative strategist at Ned Davis Research, projected that the commodity could climb above $10,000 if US national debt remains uncontrolled.
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