Which central bank was the largest buyer of gold in August 2025?

The National Bank of Kazakhstan, which bought 8 tonnes of gold, continuing six months of consecutive purchases.

Did any central banks sell gold in August 2025?

Yes, Indonesia sold 2 tonnes and Russia sold 3 tonnes. Russia’s sale is likely linked to its coin-minting initiative.

How have high gold prices affected central bank purchases?

The spike in gold prices likely limited the amount of gold that central banks were willing or able to buy.

Central Bank Gold Buying Rebounded in August

Gold | 2025-10-06 12:04:36

The single largest gold buyer was the National Bank of Kazakhstan, which added 8 tonnes to its holdings.

By Paul Ploumis

Central Bank Gold Buying Rebounded in August

Summary

Gold Buying Resumes:
Global central banks added 15 tonnes of gold in August 2025, marking a return to net purchases after no change in July.
Major Buyers:
The National Bank of Kazakhstan led with 8 tonnes, followed by Bulgaria, Ghana, China, Uzbekistan, Czech Republic, and Turkiye, each adding 2 tonnes.
Limited by High Prices:
Despite renewed buying, high gold prices likely restrained the scale of purchases; only Indonesia and Russia reduced holdings, with Russia’s sale linked to its coin-minting program.

SEATTLE (Scrap Monster): According to the most recent World Gold Council (WGC) report, global central banks' gold buying resumed in August of this year after a lull in July.

In August 2025, world central banks increased their worldwide gold stockpiles by 15 tonnes, according to the gold trade organization. This suggests a return to purchasing from July, when gold reserves were unchanged. The current spike in gold prices has probably continued to limit the amount of gold that central banks may purchase to some degree.

The National Bank of Kazakhstan was the single biggest purchaser of gold, increasing its holdings by 8 tons. The bank has been buying gold for six months in a row. The bank currently has 316 tonnes of net gold holdings, which is 32 tonnes more than it had at the end of 2024.

During the month, the Bulgarian National Bank increased its reserves by two tonnes by joining other regular purchases of gold. Furthermore, two tonnes each were added to the holdings of the Central Bank of Ghana, the People's Bank of China, the Central Bank of Uzbekistan, the Czech National Bank, and the Central Bank of Turkiye.

Only the Bank of Indonesia and the Central Bank of Russia sold gold, cutting their holdings by two and three tonnes, respectively. Russia's gold sale is probably connected to their coin-minting initiative, WGC said.

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POLL

What could be a key reason for central banks resuming gold purchases?

A) Diversification of reserves away from other assets

B) Expectation of declining global inflation

C) Reduced geopolitical tensions

Frequently Asked Questions

Which central bank was the largest buyer of gold in August 2025?
The National Bank of Kazakhstan, which bought 8 tonnes of gold, continuing six months of consecutive purchases.
Did any central banks sell gold in August 2025?
Yes, Indonesia sold 2 tonnes and Russia sold 3 tonnes. Russia’s sale is likely linked to its coin-minting initiative.
How have high gold prices affected central bank purchases?
The spike in gold prices likely limited the amount of gold that central banks were willing or able to buy.