Central Banks Bought 23 Tonnes Of Gold In July

Authored by Naveen Athrappully via The Epoch Times,

Central banks worldwide purchased a net 23 tonnes of gold in July, in line with the overall yearly trend, according to the World Gold Council (WGC).

The largest buyer last month was China, which bought 20 tonnes, according to a Sept. 3 WGC report.

"Notably, activity from the People's Bank of China (PBoC) has picked up pace in recent months, with double-digit monthly purchases of gold since May 2026," the report said. Poland purchased eight tonnes and was the second-largest buyer.

Russia was the top net seller, with six tonnes sold. This was followed by Turkey, Uzbekistan, and Jordan, all of which sold a tonne each.

Year-to-date, global central banks reported purchasing 130 tonnes of gold, down from roughly 160 tonnes during the same period in 2025. Poland has added 90 tonnes this year, with China buying 60 tonnes. Turkey has sold 85 tonnes, while Russia's sales total 50 tonnes.

Central banks account for roughly 20 percent of all historically mined gold, according to the WGC. Bullion serves as a vital bank reserve asset, valued for its liquidity, safety, and potential returns. In times of uncertainty, gold demand tends to rise.

According to a June 16 WGC report, a survey of central banks found that 89 percent of respondents forecast global central bank