Global Central Banks Record Historic High in Gold Purchases with 289 Tonnes in Q2

Central banks around the world recorded a historic high in gold purchases during the second quarter of 2026, as their purchases reached 288.9 tonnes, up 62% compared to the same period of the previous year, in the highest quarterly level in history.

These massive purchases contributed to providing a strong demand floor for the yellow metal even during periods that saw price declines at the beginning of the year, as central banks absorbed huge quantities that maintained market balance.

This trend reflects central banks' continued efforts to diversify their reserves away from the US dollar, amid rising concerns over major currency volatility and geopolitical tensions that boost demand for safe-haven assets.

This structural institutional demand gives the gold market exceptional support, as central banks have transformed into a structural driver of yellow metal prices rather than a mere marginal player, consolidating expectations that the price floor will remain high in the foreseeable future.

What do these terms mean?

Central Bank Purchases: The quantities of gold purchased by governments and central banks to add to their official reserves.

Demand Floor: The minimum level at which prices are expected to stabilize due to sustained and strong demand from institutional buyers.

Reserve Diversification: A strategy followed by central banks to reduce reliance on a single currency by holding diverse assets such as gold.