WGC: Central Banks Keep Buying Gold as China, Poland Lead July
Gold | 2026-09-07 05:14:05
On the selling side, Russia reduced its gold holdings by 6 tonnes in July, taking its year-to-date sales to 50 tonnes. Turkey sold another tonne, bringing its sales for the year to 85 tonnes.
By Paul Ploumis
SEATTLE (Scrap Monster): Central banks continued to strengthen their gold reserves in July. The reported net purchases reached 23 tonnes during the month. Several emerging-market economies increased their bullion holdings, said the latest report published by the World Gold Council (WGC).
China and Poland were the leading buyers during the month, adding 20 tonnes and 8 tonnes, respectively. The People’s Bank of China (PBoC) has notably accelerated its buying activity, recording monthly purchases of at least 10 tonnes since May. China’s gold holdings now stand at about 2,366 tonnes, representing nearly 8% of its total reserves.
Poland remained the biggest buyer in 2026, adding 90 tonnes so far this year. Its gold holdings have reached approximately 640 tonnes. The Czech National Bank added another 2 tonnes in July, extending its buying streak to 41 consecutive months. Kazakhstan, Malaysia and Bolivia each purchased 1 tonne during the month.
On the selling side, Russia reduced its gold holdings by 6 tonnes in July, taking its year-to-date sales to 50 tonnes. Turkey sold another tonne, bringing its sales for the year to 85 tonnes.
The WGC said central banks have reported around 130 tonnes of net purchases during the first seven months of 2026, notably lower when compared with roughly 160 tonnes during the same period last year.
The Bank of Korea announced its first official gold allocation, via gold-backed ETFs, after a gap of 13 years. Also, Namibia announced plans to increase its gold reserves from 1% to 3% by March next year.
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Frequently Asked Questions
- How much gold did central banks purchase in July 2026?
Central banks reported 23 tonnes of net gold purchases in July, as several countries continued to build their bullion reserves. China and Poland were the largest buyers during the month, accounting for most of the reported accumulation.
- Which countries were the biggest gold buyers in July?
China was the largest buyer, adding 20 tonnes, followed by Poland with 8 tonnes. The Czech Republic purchased another 2 tonnes, while Kazakhstan, Malaysia and Bolivia each added 1 tonne to their reserves.
- Which central banks sold gold in July?
Russia was the largest reported seller, reducing its holdings by 6 tonnes during July. Turkey sold another 1 tonne. Russia's year-to-date sales reached 50 tonnes, while Turkey's sales totaled 85 tonnes.