Central banks across the globe are continuing to increase their gold reserves even as the precious metal trades near record highs, according to the latest data from the World Gold Council. Key buyers in April included China, Poland, and Czechia, all of which sustained or accelerated their recent buying trends.
China Extends Gold Accumulation to Sixth Consecutive Month
China’s central bank added 2 tonnes of gold to its reserves in April, marking the sixth straight month of purchases. According to Krishan Gopaul, Senior Analyst at the World Gold Council, China has purchased a net total of 15 tonnes in 2025 so far, pushing its official reserves to 2,294 tonnes.
Over the last six months, the People’s Bank of China (PBoC) has increased its gold holdings by 30 tonnes, even as global gold prices have risen nearly 30%. This indicates a disciplined, long-term accumulation strategy.
Ross Norman, CEO of Metals Daily, noted that the PBoC appears to be carefully managing the pace and timing of its gold purchases—potentially as part of a broader effort to reduce reliance on U.S. dollar-denominated assets such as Treasury bonds. He added that this gradual strategy is likely to continue.
Poland Leads Sovereign Gold Buying in 2024
Poland has emerged as the largest sovereign gold buyer in 2024. The National Bank of Poland reported an increase of 12 tonnes in April, raising its total holdings to 509 tonnes. In the first four months of 2025 alone, Poland has purchased 61 tonnes—already covering two-thirds of its full-year target of 90 tonnes.
This sustained commitment underlines Poland’s strategic effort to strengthen its reserve assets amid ongoing global economic realignments.
Czechia Continues Unbroken Gold Buying Streak
The Czech National Bank also added to its reserves in April, buying 2.5 tonnes of gold. This marks the 26th consecutive month of gold accumulation, bringing the total increase over that period to 47 tonnes. Czechia’s total gold reserves now stand at 59 tonnes.
Krishan Gopaul emphasized that Czechia’s consistent purchases reflect a strong institutional shift toward gold as a core reserve holding.
Global Trends: Central Banks Remain Net Buyers for 16th Straight Year
According to the World Gold Council’s quarterly report, global central bank gold purchases totaled 243.7 tonnes in Q1 2025—a 21% drop compared to the same period last year. However, the volume remains 24% above the five-year quarterly average, indicating robust long-term interest.
The report noted that central banks have now been net gold buyers for 16 consecutive years, with particularly strong demand over the last three. This sustained buying has helped underpin global gold markets.
“Geopolitical tensions and the need for greater diversification within monetary systems are reinforcing gold’s status as a strategic reserve asset,” the Council stated. “We anticipate that prolonged uncertainties will maintain gold’s central role in the international reserve system.”
Strategic Implications: Reshaping the Global Monetary Landscape
As major economies reevaluate their reserve strategies in response to shifting geopolitical and economic dynamics, central banks’ appetite for gold is expected to persist. The World Gold Council concluded that this structural demand will likely support gold markets in the near term and may contribute to long-term changes in the global financial architecture.
With central banks like China, Poland, and Czechia leading the way, gold appears poised to remain a cornerstone of sovereign reserve strategies despite its rising cost.
