The World Gold Council released fresh statistics showing global central banks returned to net gold purchases in April 2026 with 17 tonnes bought in total, reversing large-scale net sales in March and restarting the official gold hoarding trend. Central banks adopted varied strategies: most economies in Eastern Europe and Asia kept buying gold steadily while a few nations including Russia chose to sell off reserves, reflecting split ideas on official reserve allocation worldwide.

Poland ranked as the world’s largest single gold purchaser in April with 14 tonnes of net purchases, accounting for over 80% of global central bank’s monthly net buying volume. Its total gold reserves climbed to 595 tonnes after the purchase, making gold take up 30% of Poland’s official foreign reserve assets. Poland has maintained consistent gold accumulation for years: 90 tonnes in 2024 and 102 tonnes in 2025, topping global central bank buying for two consecutive years. Its cumulative gold purchase from January to April 2026 hit 45 tonnes, marking gold reserve expansion as a long-term foreign exchange management strategy.

The People’s Bank of China extended its long-running buying spree, adding about 8.09 tonnes of gold in April and lifting total reserves to 2321.56 tonnes. It has increased gold holdings for 18 straight months, with April’s purchase hitting the second highest level since December 2024, demonstrating China’s long-term plan to diversify foreign exchange reserves via gold allocation. Czech National Bank bought another 2 tonnes in April, lifting its gold reserve to 79 tonnes (6% of total national reserves) and sticking to regular modest purchases.

On the selling side, Russia’s central bank kept offloading gold for the fourth consecutive month, selling 6 tonnes in April with year-to-date sales reaching 22 tonnes. Uzbekistan cut 1 tonne in April but remained a net buyer in 2026 with 24 tonnes accumulated purchases, second only to Poland. Türkiye’s gold reserves stayed flat in April after sharp sales in March due to mature gold-dollar swap contracts settlement.

Eastern Europe and Asia form the core driving force of global official gold buying. Over the past 36 months, Eastern European central banks bought an average of 12 tonnes monthly versus 11 tonnes for Asian counterparts, jointly dominating global central bank gold demand. The World Gold Council will publish its 9th central bank gold survey in June. The 2025 survey revealed 95% of polled central banks expected global official gold reserves to rise in 12 months and 43% planned to boost domestic gold holdings, signaling lasting bullish sentiment on gold’s value-preserving function and continuous central bank buying in the future.