Gold Demand Rebounds as Central Banks Add 19 Tonnes in February

SEATTLE (Scrap Monster): Global central banks resumed gold accumulation in February 2026, signaling renewed confidence in bullion as a strategic reserve asset after a subdued January.

Net purchases totaled 19 tonnes during the month, driven primarily by the National Bank of Poland, which added 20 tonnes—its largest monthly purchase since February 2025. This pushed Poland’s total gold reserves to 570 tonnes, accounting for 31% of its total reserves, as the bank continues to pursue its long-term target of 700 tonnes.

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Other notable buyers included the Central Bank of Uzbekistan, which extended its buying streak to five consecutive months with an 8-tonne addition, and the Czech National Bank, marking its 36th straight month of purchases. The People’s Bank of China also continued its consistent accumulation trend, registering its 16th consecutive month of gold buying. Meanwhile, Bank Negara Malaysia recorded modest gains, reflecting steady interest in diversification.

On the downside, Turkey and Russia emerged as net sellers, reducing reserves by 8 tonnes and 6 tonnes, respectively, largely due to liquidity management and treasury adjustments.

Emerging trends highlight increasing participation from African central banks, including the Bank of Uganda, which has initiated domestic gold purchases to strengthen reserves and hedge against global financial risks.