Central Bank Gold Buying Surges 62 Percent in Q2

New data from the World Gold Council shows that central banks purchased 288.9 tonnes of gold during the second quarter. This marks a sharp 62 percent increase compared to the start of the year. Poland, Uzbekistan, and China led the buying spree during this period.

Total demand for the first half of the year reached 345 tonnes, which is the lowest level seen since 2022. Even though early demand was slow, the strong acceleration in the second quarter shows that institutional buyers still want safe haven assets in their reserves.

Not all countries joined the buying trend. Russia and Turkey acted as net sellers during the same timeframe. Traders often watch central bank reserves closely because gold trends can sometimes signal broader shifts in global market sentiment and monetary policy.