Central banks bought a net 244 tons of gold in Q1 2026, the fastest pace in over a year, as the March price slump drew in buyers led by Poland, Uzbekistan and China, World Gold Council data shows.
Central banks bought a net 244 tons of gold in Q1 2026, the fastest pace in over a year, as the March price slump drew in buyers led by Poland, Uzbekistan and China, World Gold Council data shows. Summary: Net official sector gold purchases totalled 244 tons in the first quarter of 2026, up from 208 tons in the previous quarter and the fastest pace of accumulation in more than a year, according to World Gold Council estimates Poland, Uzbekistan and China were the largest reported buyers, though a portion of purchases across the quarter were undisclosed and not captured in IMF statistics Gold hit a record of nearly $5,600 per ounce on January 29 before falling 12% in March, its biggest monthly decline since 2008, after the outbreak of the US-Iran war sent energy prices surging and raised expectations of tighter monetary policy Turkey, Russia and Azerbaijan were among the sellers, offloading an estimated combined 115 tons for institution-specific reasons: Turkey to support its currency, Russia to fund a budget deficit, and Azerbaijan to bring holdings within permitted limits The WGC’s chief strategist described the March correction as the first meaningful pullback in some time, allowing central banks that had been waiting for lower prices to make substantial purchases Spot gold was trading near $4,600 per ounce ahead of the report’s release, well below its January peak The WGC’s estimates are compiled by consultancy Metals Focus using public data, trade statistics and field research, as a significant portion of central bank gold activity is never officially disclosed Central banks accumulated gold at the fastest quarterly pace in more than a year in the opening three months of 2026, with net official sector purchases reaching 244 tons, up from 208 tons in the final quarter of 2025, according to World Gold Council estimates.
The acceleration came despite, and in large part because of, the most volatile quarter for gold prices in years. Gold peaked at nearly $5,600…