A net 863 tons of gold were purchased in 2025 (World Gold Council).
Although below the record of the last 3 years (-21%), it is still well above the historical average (473 tons) and the 4th largest annual purchase in history.
The pace increased again in Q4: +230 tons Most active: Poland, Kazakhstan, Brazil
China's central bank bought for 15 consecutive months, adding another +40,000 ounces in January 2026 → gold reserves ≈ $369.6 billion
Official demand remained strong despite high prices.
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Central banks continue to buy gold!
A net 863 tons of gold were purchased in 2025 (World Gold Council).
Although below the record of the last 3 years (-21%), it is still well above the historical average (473 tons) and the 4th largest annual purchase in history.
The pace increased again in Q4: +230 tons
Most active: Poland, Kazakhstan, Brazil
China's central bank bought for 15 consecutive months, adding another +40,000 ounces in January 2026 → gold reserves ≈ $369.6 billion
Official demand remained strong despite high prices.
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