WGC Report: Central Banks Sell 30 Tonnes of Gold in March; Turkey Leads
Gold | 2026-05-06 05:15:59
Other buyers included Guatemala and the Czech Republic, each adding 2t, reflecting continued diversification of reserves among smaller central banks.
By Paul Ploumis
SEATTLE (Scrap Monster): Central banks recorded a net 30 tonnes of gold sales in March 2026, according to World Gold Council data, as large disposals from Turkey and Russia outweighed ongoing buying by several emerging market economies.
Turkey led selling with 60t, followed by Russia at 6t, while the State Oil Fund of Azerbaijan reported 22t in Q1 2026 sales, mainly from reserve management operations and liquidity needs.
On the buying side, Poland was the largest purchaser at 11t, followed by Uzbekistan at 9t, Kazakhstan at 6t, and China at 5t, extending its buying streak to 17 consecutive months.
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Other buyers included Guatemala and the Czech Republic, each adding 2t, reflecting continued diversification of reserves among smaller central banks.
Year-to-date, Poland remains the top buyer at 31t, followed by Uzbekistan, Kazakhstan and China, while Turkey is the largest net seller with 79t in Q1 2026.
The data highlights a mixed but active central bank gold market amid ongoing global monetary and liquidity adjustments.
Analysts note that central bank gold demand remains structurally strong despite short-term monthly volatility. They add that ongoing diversification of foreign exchange reserves in several economies is supporting long-term gold accumulation trends among emerging markets and global reserve managers in the 2026 outlook.
POLL
What best explains central bank gold activity in March 2026?
Frequently Asked Questions
- Why did central banks become net sellers in March 2026?
Large-scale sales by Turkey and Russia outweighed ongoing purchases by other countries.
- Which country sold the most gold?
Turkey led with 60 tonnes of gold sales.
- What is China’s current gold buying trend?
China extended its gold buying streak to 17 consecutive months.
