WGC: Central Banks Keep Buying Gold as China, Poland Lead July

Gold  |  2026-09-07 11:10:21   |   By

On the selling side, Russia reduced its gold holdings by 6 tonnes in July, taking its year-to-date sales to 50 tonnes. Turkey sold another tonne, bringing its sales for the year to 85 tonnes.

Summary
  • China and Poland lead July buying: Central banks recorded 23 tonnes of net gold purchases in July, with China adding 20 tonnes and Poland purchasing 8 tonnes. China has accelerated its buying pace in recent months, while Poland remains the leading central-bank buyer in 2026.
  • Russia and Turkey remain major sellers: Russia sold 6 tonnes of gold in July, taking its year-to-date sales to 50 tonnes. Turkey also reduced its holdings by 1 tonne, bringing its total sales for 2026 to 85 tonnes.
  • Central-bank buying remains below last year: Reported net purchases reached approximately 130 tonnes during the first seven months of 2026, compared with around 160 tonnes during the corresponding period in 2025. Meanwhile, South Korea and Namibia announced renewed efforts to increase their gold exposure.

Central Banks Buy 23 Tonnes of Gold in July as China and Poland Lead

Central banks reported net gold purchases of 23 tonnes in July 2026, led by additions from China and Poland, according to the World Gold Council.

By Paul Ploumis
Published September 7, 2026

Key Points

  • Central banks reported 23 tonnes of net gold purchases in July 2026.
  • China added 20 tonnes, while Poland purchased 8 tonnes.
  • Poland remained the largest reported central-bank gold buyer of 2026, with 90 tonnes purchased through July.
  • Russia was July’s largest reported seller, reducing its holdings by 6 tonnes.
  • Reported net purchases totalled approximately 130 tonnes during the first seven months of 2026, down from roughly 160 tonnes during the same period in 2025.

MONTREAL (Scrap Monster): Central banks continued to increase their gold reserves in July, reporting net purchases of 23 tonnes during the month, according to the latest World Gold Council report.

Several emerging-market central banks increased their bullion holdings, with China and Poland leading the reported buying.

China and Poland Lead July Gold Buying

China added 20 tonnes of gold during July, while Poland purchased 8 tonnes.

The People’s Bank of China has accelerated its buying activity, recording double-digit monthly purchases since May 2026. China’s official gold holdings now stand at approximately 2,366 tonnes, representing about 8% of its total reserves.

Poland remained the largest reported central-bank buyer in 2026, adding 90 tonnes during the first seven months of the year. Its gold holdings reached approximately 640 tonnes.

Additional Central Banks Increase Gold Holdings

The Czech National Bank added another 2 tonnes in July, extending its buying streak to 41 consecutive months.

Kazakhstan, Malaysia and Bolivia each purchased approximately 1 tonne during the month.

Russia Leads Reported July Selling

Russia reduced its gold holdings by 6 tonnes in July, taking its reported year-to-date sales to 50 tonnes.

Turkey, Jordan and Uzbekistan each sold approximately 1 tonne during the month. Turkey’s year-to-date sales reached 85 tonnes.

Seven-Month Buying Trails the 2025 Pace

The World Gold Council said reported central-bank net purchases totalled approximately 130 tonnes during the first seven months of 2026.

That compares with roughly 160 tonnes purchased during the corresponding period in 2025.

South Korea and Namibia Announce Gold Plans

The Bank of Korea announced its first official gold allocation in 13 years. The allocation, made through gold-backed exchange-traded funds, was estimated by the World Gold Council at approximately 2 tonnes.

Namibia announced plans to increase gold from approximately 1% to 3% of its reserves by the end of March 2027.

Source: World Gold Council, Central Bank Gold Statistics. Data through July 31, 2026, where available.

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Frequently Asked Questions

How much gold did central banks buy in July 2026?

Central banks reported net gold purchases of approximately 23 tonnes during July 2026, according to the World Gold Council.

Which central banks were the largest July buyers?

China led the reported buying with a 20-tonne addition, followed by Poland with 8 tonnes.

How does 2026 central-bank buying compare with 2025?

Reported purchases totalled approximately 130 tonnes during the first seven months of 2026, compared with roughly 160 tonnes during the corresponding period of 2025.