According to the new report of the World Gold Council, central banks that continue to purchase gold made net purchases of 2025 tons in the first month of 18.
“Central banks continued their strong interest in gold in January with a net purchase of 18 tons. The continuation of purchases emphasizes the strategic importance of gold in official reserves, especially as central banks struggle with increasing geopolitical risks,” it said.
During this time, emerging market central banks continued to lead the way in net purchases, with Uzbekistan, China and Kazakhstan the top three buyers, while Poland and India continue to accumulate gold reserves – both central banks added 3 tonnes to their reserves in January, the World Gold Council found.
The World Gold Council's report highlighted the following issues:
– The Central Bank of Uzbekistan reported that its gold assets reached 8 tons, or 391 percent of its reserves, by making net purchases of 82 tons in January.
– The People’s Bank of China, China’s central bank, reported its third consecutive month of net purchases, adding 5 tonnes in January. The PBoC’s gold holdings rose to 2,285 tonnes, or 6% of total reserves, at the end of January.
– Kazakhstan’s central bank, the National Bank of Kazakhstan (NBK), has added 4 tons of gold to its reserves. NBK Governor Timur Suleimenov said the central bank was “discussing a move to monetary neutrality in gold purchases” in order to increase international reserves and “protect the economy from external shocks.” The NBK will reportedly begin selling US dollars as part of “mirroring operations on gold purchases.” Kazakhstan’s gold reserves total 288 tons, making up 55 percent of its total reserves.
– The National Bank of Poland (3 tons), the National Bank of India (3 tons), the Czech National Bank (2 tons) and the National Bank of Qatar (1 ton) continued their net purchases in 2025.
– Major sellers of the month include the Central Bank of Russia and the Central Bank of Jordan, which both sold 3 tons respectively, and the Central Bank of the Kyrgyz Republic, which sold 2 tons.
