Central Banks Buy 39 Tonnes of Gold in August as China Leads Purchases
Global central banks reported net gold purchases of 39 tonnes in August, led by China, Uzbekistan and Poland. Reported year-to-date buying reached 170 tonnes as reserve managers continued to build gold holdings despite elevated bullion prices.
By Paul Ploumis
Published October 7, 2026
Summary Points
- August buying: Central banks reported 39 tonnes of net gold purchases.
- Year to date: Reported purchases reached approximately 170 tonnes through August.
- China: The People's Bank of China added 20 tonnes, its 22nd consecutive month of reported buying.
- Poland: The National Bank of Poland purchased 8 tonnes and remained the largest reported buyer of 2026 with 98 tonnes added.
- Other buyers: Uzbekistan added 8 tonnes, Kazakhstan 7 tonnes, Turkey 3 tonnes and the Czech Republic 2 tonnes.
- Sales: Russia sold 6 tonnes and Jordan reduced its holdings by 3 tonnes.
SEATTLE (Scrap Monster): Global central banks continued adding gold to their reserves in August, reporting net purchases of 39 tonnes, according to the latest World Gold Council data.
The monthly increase lifted reported year-to-date net purchases to approximately 170 tonnes.
China led the month's buying, followed by Uzbekistan and Poland, while several other emerging-market central banks continued adding gold to their reserves.
The August data reinforce the broader trend of official-sector demand for gold as central banks use the metal for reserve diversification, crisis protection and long-term wealth preservation.
SCRAPMONSTER EDGE
The 170-tonne figure does not represent all central-bank gold demand. It covers publicly reported reserve changes available to the World Gold Council. Some official-sector purchases are disclosed with delays or not publicly reported at all, meaning total central-bank demand can be higher than the monthly reported statistics suggest.
China Buys 20 Tonnes for 22nd Consecutive Month
The People's Bank of China was the largest reported buyer in August, adding approximately 20 tonnes of gold.
The purchase extended China's reported gold-buying streak to 22 consecutive months.
China has added approximately 80 tonnes in 2026, second only to Poland among publicly reported buyers.
Its official gold reserves reached roughly 2,387 tonnes, representing around 9% of total Chinese reserves.
The continued purchases underscore China's gradual effort to increase gold's role within its reserve portfolio while maintaining one of the world's largest foreign-exchange reserve positions.
Poland Remains 2026's Largest Reported Buyer
The National Bank of Poland added another 8 tonnes in August.
That lifted Poland's reported 2026 purchases to approximately 98 tonnes, keeping the country at the top of the year-to-date central-bank buying table.
Poland's official gold reserves now stand at roughly 648 tonnes.
The central bank has previously indicated a target of approximately 700 tonnes, putting it within about 52 tonnes of that objective based on the August data.
| Central Bank | August Change | 2026 YTD |
|---|---|---|
| China | +20t | +80t |
| Poland | +8t | +98t |
| Uzbekistan | +8t | ~+48t |
| Kazakhstan | +7t | ~+36t |
| Turkey | +3t | -82t |
| Czech Republic | +2t | +14t |
| Russia | -6t | -56t |
| Jordan | -3t | +2t |
Uzbekistan Adds 8 Tonnes
The Central Bank of Uzbekistan returned to buying in August, adding approximately 8 tonnes.
Its purchases for the year now stand close to 50 tonnes.
Uzbekistan's total gold holdings reached approximately 439 tonnes, representing around 90% of its total international reserves.
The country remains unusual among major reserve managers because gold accounts for such a large share of its reserve portfolio.
Kazakhstan Adds Another 7 Tonnes
The National Bank of Kazakhstan purchased approximately 7 tonnes in August.
Its reported buying for 2026 reached roughly 36 tonnes.
Kazakhstan's total gold holdings stood at approximately 377 tonnes, representing about 79% of its total reserves.
Like Uzbekistan, Kazakhstan has remained a regular participant in the central-bank gold market during 2026.
Czech National Bank Extends Buying Streak to 42 Months
The Czech National Bank added another 2 tonnes during August.
The purchase extended its run of monthly accumulation to 42 consecutive months.
The Czech central bank has bought approximately 14 tonnes so far in 2026, bringing its total gold holdings to around 86 tonnes.
Gold now represents roughly 7% of the country's total reserves.
Turkey Returns to Buying After Three Months of Sales
The Central Bank of the Republic of Turkey added approximately 3 tonnes of gold in August.
The purchase followed three consecutive months of net selling.
Despite the August increase, Turkey remained a significant net seller for 2026, with year-to-date sales totaling approximately 82 tonnes.
Most of those disposals occurred during the first quarter.
The shift back to buying in August therefore represents a change in the monthly direction rather than a reversal of Turkey's full-year position.
Russia Continues to Reduce Gold Holdings
The Central Bank of Russia remained the largest reported seller during August.
Russia reduced its gold holdings by another 6 tonnes, bringing reported year-to-date sales to approximately 56 tonnes.
Total Russian gold holdings fell to around 2,271 tonnes.
Russia has been one of the few major official-sector holders consistently reporting net sales during 2026.
Jordan Sells 3 Tonnes but Remains Net Buyer for 2026
The Central Bank of Jordan sold approximately 3 tonnes in August.
Despite the monthly disposal, Jordan remained a small net buyer for the year, with reported year-to-date purchases of approximately 2 tonnes.
Its total holdings stood at roughly 75 tonnes, equivalent to around 37% of total reserves.
Reported Buying Accelerates From July
August marked a pickup in reported central-bank activity compared with the previous month.
Central banks reported net buying of approximately 23 tonnes in July, bringing the year-to-date total at that point to roughly 130 tonnes.
August's 39-tonne increase pushed reported purchases to approximately 170 tonnes.
The World Gold Council noted that monthly central-bank purchases can vary substantially because individual reserve managers operate according to different timing, liquidity needs and reserve-management objectives.
REPORTED VS. TOTAL DEMAND
Monthly reserve statistics capture only transactions that central banks publicly disclose. The World Gold Council's broader Gold Demand Trends analysis also estimates activity from official institutions that has not yet been reported. For that reason, the 170-tonne year-to-date figure should not be interpreted as total global central-bank gold demand.
Why Central Banks Continue to Hold Gold
The continuing purchases are consistent with the findings of the World Gold Council's 2026 Central Bank Gold Reserves Survey.
The survey of 76 central banks found that 89% of respondents expect global central-bank gold reserves to increase during the next 12 months.
A record 45% said they expect their own institution's gold reserves to rise.
The most frequently cited reasons for holding gold included:
- performance during periods of crisis;
- long-term store-of-value characteristics;
- portfolio diversification;
- protection against geopolitical risk; and
- inflation and reserve-management considerations.
Approximately 90% of respondents said gold's performance during periods of crisis was relevant to their decision to hold the metal.
Another 84% cited its role as a long-term store of value, while 83% identified diversification as an important factor.
Central Banks Are Also Changing Where They Store Gold
Official-sector strategy is evolving beyond simply how much gold central banks own.
Some reserve managers are also reconsidering where their bullion is stored.
Earlier this year, De Nederlandsche Bank transferred approximately 86 tonnes of gold from New York and Ottawa to London to improve liquidity and tradability while diversifying custody locations.
The World Gold Council's survey found that 9% of respondents had increased domestic gold storage over the preceding year, while 10% had diversified their overseas storage locations.
That trend illustrates how geopolitical risk, market accessibility and custody security are increasingly being considered together in reserve management.
Market Read
August's 39-tonne increase reinforces the view that central-bank gold demand remains broad even after the metal's substantial price gains over recent years.
China continues to accumulate steadily, Poland remains the largest reported buyer of 2026, and smaller reserve managers including Uzbekistan, Kazakhstan and the Czech Republic remain active.
At the same time, Russia and Turkey demonstrate that central-bank activity is not uniformly one-directional. Individual institutions may sell gold for liquidity, portfolio management or country-specific reasons even while the global trend remains positive.
The more important signal comes from the longer-term survey data.
A large majority of central-bank reserve managers still expect global gold holdings to rise, and nearly half now expect their own institution to increase its allocation.
That suggests the strategic case for gold remains intact even as individual monthly purchases fluctuate.
For the gold market, official-sector demand therefore remains an important structural source of support, but monthly reported statistics should be read alongside estimated unreported demand and broader changes in reserve-management strategy.
Data note: Monthly country figures in this article refer to publicly reported central-bank reserve changes compiled by the World Gold Council. They do not capture all unreported official-sector transactions.