WGC: World Central Bank Gold Demand Surges 36% in October

Brazil also recorded strong demand, adding 16 tonnes in its second consecutive month of purchases, bringing reserves to 161 tonnes.

SEATTLE (Scrap Monster): Central bank gold purchases in 2025 continued to show resilience in October, totalling 53 tonnes—a 36% month-on-month increase—according to recent data by the World Gold Council (WGC). This sustained demand reflects the strategic approach of emerging-market central banks, which are increasingly using gold as a hedge against macroeconomic uncertainty.

The National Bank of Poland led October buying with 16 tonnes, following its re-entry into the market after a brief pause, raising total reserves to 531 tonnes, or 26% of its total holdings. Brazil also recorded strong demand, adding 16 tonnes in its second consecutive month of purchases, bringing reserves to 161 tonnes.

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Smaller additions came from Uzbekistan (9t), Indonesia (4t), Turkey (3t), the Czech Republic (2t), Kyrgyzstan (2t), and other central banks including Ghana, China, Kazakhstan, and the Philippines. Russia was the only central bank to report a decline, reducing its reserves by 3 tonnes to 2,327 tonnes.

Year-to-date, total official-sector gold purchases have reached 254 tonnes, with Poland (83t) and Kazakhstan (41t) leading the list. Analysts note that these emerging-market gold acquisitions in 2025 are largely strategic, emphasizing the enduring role of gold in central bank portfolios amid global economic uncertainty.

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