- Global central banks have amassed an unofficial total of approximately 9,500 tonnes of Gold since 2010, exceeding official reports by 64%.
- Gold purchases by these banks accelerated notably in 2022, accounting for 37% of total accumulation since 2010.
- China led recent buying, acquiring 118 tonnes of gold in the third quarter of 2025, up 55% year-over-year.
- Financial expert Rashad Hajiyev highlighted a strong gold price rally since October 2023, suggesting potential to reach $5,000 per ounce.
- The current trend reflects ongoing interest as the US dollar shows signs of weakness in 2025, increasing gold’s appeal among central banks.
Central banks globally are intensifying their gold acquisitions, with unofficial data indicating they hold about 9,500 tonnes since 2010. This quantity exceeds officially reported purchases by roughly 3,700 tonnes, a 64% increase. The surge reflects ongoing strategies to diversify assets amid concerns over the US dollar’s weakening position in 2025.
The period following 2022 marked a significant rise in gold accumulation. Reports reveal that since 2022, central banks have collectively added around 3,500 tonnes to their reserves, representing 37% of the total gold bought over the past 15 years. This accelerated buying signals a strong preference for precious metals as a financial buffer.
China has been a major player in this gold acquisition trend, purchasing 118 tonnes in the third quarter of 2025 alone, a 55% increase compared to the previous year. Estimates suggest China’s total gold reserves recently surged to a record 5,411 tonnes, substantially exceeding its central bank’s official figure of 2,304 tonnes.
Gold prices have responded to these dynamics with a notable rally. According to financial analyst Rashad Hajiyev, gold has gained 140% since October 2023. He explains that prior price consolidations lasted at least three months and predicts that a continuation of this pattern could push prices toward $5,000 per ounce. His analysis cites previous post-rally surges ranging from 13% to 27% as benchmarks for future price movements.
This widespread accumulation occurs amid skepticism about the stability of the US dollar, reinforcing gold and silver’s roles as key assets in global markets. The sustained interest from central banks underscores gold’s enduring value as a reserve asset in uncertain times. For more details, see the recent Kobeissi Letter.
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