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

Global central banks have recently seen a significant surge in their gold purchases, according to the latest data. The World Gold Council reported that in February alone, central banks acquired 27 tons of gold, valued at over $4.6 trillion. This marks a substantial 575% increase from the previous month, where only four tons were purchased. The current price of gold stands at $4,833.

Among the central banks, Poland emerged as the top buyer, accounting for 74% of the total gold purchased by reserve banks in February. The report also highlighted other active buyers, including Uzbekistan, Kazakhstan, Czech Republic, Malaysia, China, and Cambodia. However, Turkey and Russia were notable as the largest net sellers of gold during the same period, offloading a combined 14 tons.

Interestingly, African central banks are also joining the trend of increasing their gold reserves. For instance, the Bank of Uganda initiated a domestic gold-buying program two years ago, with active purchases starting in March 2026. Similarly, Kenya’s central bank Governor Kamau Thugge hinted at similar intentions, indicating a growing preference among African central banks for gold as a strategic diversification tool.

This shift towards gold as a reserve asset is not limited to Europe and Asia, as some African countries are now actively participating in bolstering their gold reserves. This diversification strategy is seen as a means to strengthen their financial position and hedge against economic uncertainties.

In conclusion, the rise in gold purchases by global central banks reflects a broader trend of increasing interest in gold as a safe-haven asset. As geopolitical and economic uncertainties persist, central banks are turning to gold to enhance their reserves and protect against market volatility. This strategic move underscores the enduring appeal of gold as a timeless store of value in the ever-changing financial landscape.