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Central Banks Buy 61 Tonnes of Gold in September as Poland and China Lead
Global central banks reported 61 tonnes of net gold purchases in September 2026, the highest monthly total this year. Poland and China led the buying, while reported purchases reached 228 tonnes during the first nine months.
By Paul Ploumis | Published November 5, 2026
Key Points
- September buying reaches 2026 high: Central banks reported 61 tonnes of net purchases, led by Poland (25 tonnes) and China (23 tonnes).
- Year-to-date accumulation: Reported net buying totalled 228 tonnes, down 7% from January–September 2025.
- Major sellers: Turkey recorded 82 tonnes of year-to-date net sales, followed by Russia at 62 tonnes and Azerbaijan's State Oil Fund at 22 tonnes.
SEATTLE (Scrap Monster): Global central banks accelerated gold accumulation in September 2026, reporting 61 tonnes of net purchases, the highest monthly total recorded this year, according to the World Gold Council (WGC).
Poland and China dominated buying activity, accounting for 48 tonnes of reported additions between them. Several other central banks also increased their reserves, while Russia remained the month's largest reported seller.
SCRAPMONSTER EDGE | PRECIOUS METALS ANALYSIS
Poland and China Dominate September's Reported Buying
Poland and China together added 48 tonnes of gold, equivalent to approximately 79% of September's 61-tonne global reported net increase. This comparison uses the net figure after purchases and sales, not total gross buying.
The concentration is important. Although September was the strongest reported buying month of 2026, cumulative publicly disclosed purchases remained 7% below last year's corresponding period.
Meanwhile, the WGC's broader Gold Demand Trends research estimated 675 tonnes of total central-bank net buying during January–September, including activity not captured in publicly reported reserve changes.
Industry takeaway: Reported central-bank transactions provide a useful indication of official-sector buying patterns, but they do not capture all activity. Bullion traders, refiners and precious-metals market participants should distinguish disclosed reserve changes from the WGC's broader demand estimates when assessing market trends.
Poland and China Lead September Gold Purchases
The National Bank of Poland topped September's list of buyers, adding 25 tonnes to its reserves.
The People's Bank of China followed with 23 tonnes, extending its gold-buying streak to 23 consecutive months.
Other reported purchasers included Uzbekistan with 7 tonnes, Kazakhstan with 5 tonnes, Jordan with 4 tonnes, the Czech Republic with 2 tonnes and Bolivia with 1 tonne.
Russia was the largest reported seller during September, reducing its gold holdings by approximately 6 tonnes.
Reported Central-Bank Gold Purchases Reach 228 Tonnes
Central banks reported 228 tonnes of net purchases during January–September 2026, down 7% compared with the corresponding period in 2025.
Poland remained the largest reported buyer during the nine months, adding 123 tonnes, followed by China with 103 tonnes. They were the only two central banks to exceed 100 tonnes of reported buying over the period.
Uzbekistan, Kazakhstan, the Czech Republic, Singapore and Chile also registered double-digit purchases, while several emerging-market central banks recorded smaller additions.
Turkey and Russia Lead Year-to-Date Gold Sales
Turkey reported the largest year-to-date net reduction in gold reserves, selling 82 tonnes during the first nine months of 2026.
Russia followed with 62 tonnes of net sales after nine consecutive months of reductions.
Azerbaijan's State Oil Fund reported 22 tonnes of net sales year to date. Its figures are reported quarterly and are excluded from the WGC's monthly central-bank totals.
Data source: World Gold Council, Central Bank Gold Statistics: September 2026, published November 4, 2026. Reported reserve changes may be revised as additional data become available. Monthly totals may not sum precisely because of rounding and reporting differences.