Gold Purchases by Global Central Banks Skyrocket 575%, Surpassing $4,600,000,000 in Just One Month

Global central banks just recorded a massive month-on-month increase in their gold purchases.

According to the World Gold Council, global central banks purchased 27 tons of gold worth just over $4.6 trillion in February.

That’s a 575% increase from the four tons that the reserve banks bought in January.

“Just two months into the year, central banks have bought 31t, a pace much slower than the same period last year (50t).”

Gold is trading at $4,833 at time of writing.

Poland’s central bank was the largest buyer of gold among the global reserve banks, purchasing about 74% of the gold reserve banks bought in February.

“Central banks bought a net 27t in February, with activity driven by Poland (20t), a marked rebound after a lull in January.

Uzbekistan entered its fifth consecutive month of net buying (8t), followed by Kazakhstan (8t), Czech Republic (2t), Malaysia (2t), China (1t) and Cambodia (1t).”

Turkey and Russia were the largest net sellers of gold, having disposed of a combined 14 tons in February.

Besides the central banks in Europe and Asia, the report says some African reserve banks are also ramping up their yellow metal reserves.

“The Bank of Uganda launched its domestic gold-buying program two years ago, with active buying commencing in March 2026. The bank aims to purchase at least 100kg of gold between March and June this year…

…Kenya’s central bank Governor Kamau Thugge signaled similar intentions at a news conference in early February, which alludes to a broader trend of African central banks turning to gold as a strategic diversification tool.”

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