WGC News & Analysis

Central Banks Increase Gold Holdings Amid Geopolitical Risks

Central banks have purchased an average of 1,000 tonnes of gold annually over the past four years, double the previous decade’s average. A World Gold Council survey shows that nearly 90% of participating central banks expect their gold reserves to increase in the next year, while only 1% foresee a decline. As concerns over the accessibility of overseas assets rise—exacerbated by events like Russia's invasion of Ukraine—more central banks are opting to store gold domestically. This trend could provide a stable foundation for the gold market, particularly with estimates that central banks may buy 750-1,000 metric tonnes of gold this year.