Central banks around the world bought a net 39 tonnes of gold in August 2026. It was their fifth straight month of net buying, according to the World Gold Council (WGC).
China led the way with 20 tonnes, followed by Uzbekistan and Poland at 8 tonnes each. Reported central bank purchases for 2026 now total 170 tonnes.
The WGC says August’s buying came from familiar names running multi-year accumulation programmes. In its view, that points to long-term reserve strategy, not reactions to short-term price moves.
A summer buying spree
Central banks returned to net buying in April after a weak first quarter. They have bought every month since:
| Month (2026) | Net central bank purchases |
|---|---|
| April | 41 t |
| May | 40 t |
| June | 52 t |
| July | 23 t |
| August | 39 t |
June’s figure was first reported at 51 tonnes and later revised. July’s dip to 23 tonnes proved short-lived, with buying picking up again in August (WGC, July data).
The first quarter was held back by heavy selling from Turkey, which has sold a net 82 tonnes so far this year. Russia has also sold 56 tonnes. Even so, buyers have comfortably outweighed sellers.
China leads the pack
The People’s Bank of China added 20 tonnes in August, its 22nd consecutive month of buying. That brings its 2026 purchases to 80 tonnes, second only to Poland.
China’s official gold reserves reached a record of around 2,387 tonnes at the end of August, about 9% of its total reserves. The August purchase was China’s biggest monthly addition since October 2023 (IndexBox).
The buying has not stopped. Data released on 7 October shows China added another 23 tonnes in September, extending the streak to 23 months. [Internal link: FirstGold article on China’s September gold purchase]
Poland closes in on its 700-tonne target
The National Bank of Poland bought another 8 tonnes in August. It remains 2026’s biggest buyer, with 98 tonnes added this year.
Poland’s gold holdings now stand at a record 648 tonnes, edging closer to its stated target of 700 tonnes. Poland has been one of the world’s most consistent gold buyers in recent years, as it strengthens its reserves on NATO’s eastern flank.
Other buyers in August included Uzbekistan (8 tonnes), Kazakhstan (7 tonnes), Turkey (3 tonnes) and the Czech Republic (2 tonnes). The Czech National Bank has now bought gold for 42 months in a row.
What it means for gold
Central banks continue to accumulate gold aggressively, and analysts see that as a key support for prices. ING’s commodities team says official buying is driven by long-term diversification goals and will likely remain an important source of support in the months ahead (FXStreet). [Internal link: FirstGold’s latest gold price analysis]
Gold’s share of global central bank reserves has risen from about 14% in 2023 to nearly 25%, according to Bundesbank president Joachim Nagel. He noted that much of that rise reflects higher gold prices, not just new buying (ad-hoc-news). [Internal link: FirstGold explainer on why central banks buy gold]
For private buyers, the message is clear: the world’s most cautious investors keep choosing gold. [Internal link: FirstGold guide to buying gold bullion]
Sources: World Gold Council, August data · World Gold Council, July data · World Gold Council, June data · Kitco · IndexBox · FXStreet · ad-hoc-news
| Claim | Verdict | Note |
|---|---|---|
| +39 t in August | Confirmed | WGC, 6 Oct 2026 |
| 5th consecutive monthly purchase | Confirmed | Net buying resumed in April |
| +23 t in July | Confirmed | WGC, 3 Sep 2026 |
| +52 t in June | Confirmed (revised) | First reported as 51 t |
| China +20 t, 80 t year to date | Confirmed | 22nd straight month |
| China reserves record 2,387 t, 9% | Mostly correct | WGC says 9% of total reserves, not FX reserves; wording changed in the article |
| Poland +8 t, 98 t year to date, 648 t | Confirmed | Target 700 t |
| Poland holdings a “record” | Not stated by WGC | Holdings rise every month, so 648 t is its highest yet; safe to keep |
| 170 t year to date | Confirmed | Reported purchases only |
Disclaimer: This article is for information only and is not financial advice.
