Central banks around the world have just reported a significant month-on-month increase in their gold purchases.
According to At the World Gold Council, central banks around the world bought 27 tons of gold worth more than $4.6 trillion in February.
That’s a 575% increase from the four tonnes the reserve bank bought in January.
“Just two months into the year, central banks have bought 31t, a slower pace than the same period last year (50t).”
Gold is trading at $4,833 at the time of writing.
Poland’s central bank was the biggest buyer of gold among the world’s reserve banks, buying about 74% of the gold reserves it bought in February.
“Central banks bought a net of 27t in February, with activity driven by Poland (20t), which came back after a lull in January.
Uzbekistan entered its fifth consecutive month of total imports (8t), followed by Kazakhstan (8t), Czech Republic (2t), Malaysia (2t), China (1t) and Cambodia (1t).”
Turkey and Russia were the biggest sellers of gold, and lost 14 tons in February.
Apart from central banks in Europe and Asia, the report says some African banks are also increasing their reserves of the yellow metal.
The Bank of Uganda launched its domestic gold purchase program two years ago, and the immediate purchase began in March 2026. The bank intends to purchase at least 100kg of gold between March and June this year…
… Kenya’s central bank governor Kamau Thugge also expressed similar intentions at a press conference in early February, which refers to how African central banks are turning to gold as a tool for diversification.
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