Central Banks Buy 39 Tonnes of Gold in August, with Poland Leading 2026 Purchases

Net purchases of gold by central banks reached 39 tonnes in August, bringing their reported purchases since the beginning of 2026 to 170 tonnes, according to World Gold Council data based on official national disclosures.

China added 20 tonnes in August, marking its twenty-second consecutive month of buying, while Poland increased its holdings by 8 tonnes, becoming the largest buyer since the beginning of the year with a total of 98 tonnes, in a continuation of Warsaw's strategy to boost its reserves of the metal.

On the other hand, Russia sold 6 tonnes of gold in August, bringing its total sales since the start of the year to 56 tonnes, while Jordan sold 3 tonnes, indicating that some countries are adjusting their holdings rather than increasing them, or using gold to cover urgent financial needs.

Continued official purchasing reinforces structural demand for the yellow metal, establishing an unannounced price floor during periods of decline, as many central banks in emerging markets move to diversify their reserves away from the dollar and reduce their exposure to US monetary policy fluctuations. Today, official purchasing is considered the most stabilizing factor in the gold market, as it is not subject to short-term profit and loss calculations that govern investor movements.

What do these terms mean?

Net Purchases: The difference between what central banks bought and sold during the period, a figure measuring the actual direction of official demand.

Structural Demand: Sustained demand resulting from long-term structural reasons, rather than short-term market fluctuations.

Diversification: Allocating reserves across multiple assets to reduce risks instead of relying on a single currency.