Global central banks acquired 39 tonnes of gold in August, with China leading purchases at 20 tonnes and now holding record reserves of 2,387 tonnes.
Macro & Markets ·
Central banks purchased 39 tonnes of gold in August, extending a streak of monthly acquisitions to five consecutive months. China led the buying with 20 tonnes added to its holdings, which now total 2,387 tonnes—representing 9% of its foreign exchange reserves and marking an all-time high. Poland also expanded its position by 8 tonnes during the month.
The August purchases follow larger monthly volumes in the prior two months, with July seeing 23 tonnes acquired and June 52 tonnes. China's year-to-date accumulation reached 80 tonnes, while Poland's purchases so far in 2026 totaled 98 tonnes and lifted its overall gold reserves to 648 tonnes. Through eight months of 2026, central banks collectively acquired 170 tonnes.
The pattern reflects sustained institutional demand for gold among monetary authorities. What remains unclear is whether the pace will hold through the remainder of 2026, or what specific factors are driving individual central banks' acquisition strategies beyond the publicly stated figures.