Which countries led gold purchases in November 2025?

Poland purchased 12 tonnes and Brazil 11 tonnes, leading central bank buying.

What is the total central bank gold buying for 2025 so far?

Year-to-date purchases reached 297 tonnes as of November 2025.

Why are central banks buying gold?

Gold is used for reserve diversification and to strengthen financial stability.

WGC: Central Banks, Emerging Markets Boost Gold Reserves in November

Gold | 2026-01-07 11:41:54

The National Bank of Poland led reported buying, adding 12 tonnes in November and extending its accumulation streak.

By Paul Ploumis

Summary

Central banks bought 45 tonnes of gold in November, raising 2025 year-to-date purchases to 297 tonnes.
Poland (12t) and Brazil (11t) were the largest buyers, boosting their gold reserves significantly.
Other active buyers included Uzbekistan, Kazakhstan, Kyrgyz Republic, Czech Republic, China, Indonesia, and Tanzania; net selling was minimal.

SEATTLE (Scrap Monster): Central bank gold demand remained firm in November, highlighting continued buying by emerging market institutions, according to a World Gold Council (WGC) report. Net purchases totalled 45 tonnes during the month, lifting year to date additions to 297 tonnes and underscoring gold’s role in reserve diversification.

The National Bank of Poland led reported buying, adding 12 tonnes in November and extending its accumulation streak. The purchase raised Poland’s gold holdings to 543 tonnes, representing nearly 28 percent of total reserves at end November prices. The Central Bank of Brazil also stayed active, purchasing 11 tonnes for a third consecutive month. Its recent buying lifted total reserves to 172 tonnes, or roughly six percent of overall reserves.

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Other buyers included the Central Bank of Uzbekistan, the National Bank of Kazakhstan, the National Bank of the Kyrgyz Republic, the Czech National Bank, the People’s Bank of China and Bank Indonesia, reflecting broad based official sector demand. Net sellers during the month were limited, with small reductions reported by the Central Bank of Jordan and the Qatar Central Bank.

Separately, the Bank of Tanzania said it accumulated 15 tonnes of monetary gold to strengthen foreign reserves.