WGC: Central Bank Gold Buying Witnessed Slight Moderation in May

SEATTLE (Scrap Monster): The central bank gold purchases picked up in May this year, but the pace of gold buying moderated slightly during the month, said the latest report published by the World Gold Council (WGC).

According to the report, global central banks added 20 tonnes of gold to their reserves in May 2025. The fresh tensions in the Middle East region reinforced the safe-haven appeal of the yellow metal, which drove purchases.

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The National Bank of Kazakhstan added 7 tonnes of gold to its reserves during the month, taking the total reserves to 299 tonnes. The Central Bank of Turkey and National Bank of Poland also added 6 tonnes each to their gold holdings. The People’s Bank of China and Czech National Bank both added 2 tonnes of gold. Meanwhile, National Bank of the Kyrgyz Republic, National Bank of Cambodia, the Central Bank of the Philippines and the Bank of Ghana recorded addition of 1 tonne of gold to their reserves during the month.

The Monetary Authority of Singapore led the month's gold outflows with five tonnes, followed by the Deutsche Bundesbank and the Central Bank of the Republic of Uzbekistan, each of which sold one tonne of gold in May 2025. With 27 tons sold so far this year, Uzbekistan continues to be the top net seller of gold.