Central Bank Gold Reserves, World Gold Council, Turkey Gold Reserves: The Central Bank of the Republic of Türkiye (CBRT) emerged as the world’s largest official gold seller during the first five months of 2026, according to the latest data released by the World Gold Council (WGC). The central bank recorded net gold sales of 81 tons, primarily to strengthen United States dollar liquidity and support the Turkish lira during financial market volatility linked to the Iran conflict.

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Türkiye Leads Global Official Gold Sales

The latest World Gold Council figures show that central banks collectively added a net 41 tons of gold to their reserves in May 2026. However, Türkiye and Russia were the only central banks that reported net gold sales during the month.

Türkiye sold 3 tons of gold in May, while Russia reduced its holdings by 6 tons. On a year-to-date basis, Türkiye remained the largest official seller with 81 tons of net sales, followed by Russia with 34 tons.

Gold Reserves Used to Support Financial Stability

The report indicates that Türkiye relied on its gold reserves as financial markets experienced heightened volatility during the Iran war.

The central bank reportedly used part of its gold holdings to increase United States dollar liquidity, while intervening in foreign exchange markets to stabilize the Turkish lira. Market interventions reportedly reached nearly 60 billion United States dollars during the most volatile period.

Poland Continues to Lead Central Bank Gold Buying

While Türkiye led global gold sales, Poland remained the largest gold buyer among central banks.

The National Bank of Poland purchased 18 tons of gold in May, extending its streak of double-digit monthly purchases to four consecutive months. Its total purchases for 2026 reached 64 tons, increasing national gold reserves to 614 tons as it works toward its long-term target of 700 tons.

Other major buyers included:

• Uzbekistan: Added 9 tons in May, bringing total 2026 purchases to 33 tons.
• China: Purchased another 10 tons, extending its gold buying streak to 20 consecutive months and raising total purchases this year to 25 tons.
• Kazakhstan: Added 7 tons in May, lifting year-to-date purchases to 20 tons.

Türkiye’s Gold Reserves Recover After Sharp Decline

According to official central bank data, Türkiye’s gold reserves climbed to a record 823.5 tons during the week ending March 6, 2026 before declining sharply.

During the peak of market stress, the CBRT is estimated to have deployed nearly 130 tons of gold through a combination of direct sales and United States dollar-for-gold swap transactions, reducing reserves to approximately 694.1 tons in early April.

As market conditions improved, the central bank gradually unwound part of its swap positions, allowing reserves to recover to 733.2 tons by May 15.

Current Reserve Position

As of the week ending June 26, 2026, the CBRT reported:

• Total official reserve assets: 149.2 billion United States dollars
• Gold holdings: 729.6 tons, valued at approximately 95.0 billion United States dollars
• Foreign exchange reserves: 46.6 billion United States dollars

The central bank also reported 3 billion United States dollars in net receivables from outstanding gold swap transactions, equivalent to approximately 23 tons of gold at prevailing market prices.

Central Bank Gold Trends Remain Mixed

The latest World Gold Council data highlights differing strategies among central banks in 2026. While several countries continue expanding their gold reserves to diversify assets and strengthen long-term financial stability, Türkiye has adopted a different approach by utilizing part of its gold holdings to manage currency liquidity and respond to extraordinary market conditions.

FAQs

1. Why did Türkiye become the world’s largest official gold seller in 2026?

According to the World Gold Council, the Central Bank of the Republic of Türkiye sold a net 81 tons of gold during the first five months of 2026. The sales were primarily aimed at increasing United States dollar liquidity and supporting the Turkish lira during financial market volatility associated with the Iran conflict.

2. How much gold did Türkiye sell and how does it compare with other central banks?

Türkiye recorded net gold sales of 81 tons between January and May 2026, making it the largest official gold seller globally. Russia ranked second with net sales of 34 tons, while most other central banks continued adding gold to their reserves.

3. Which central banks were the biggest gold buyers in 2026?

Poland remained the largest central bank gold buyer, purchasing 64 tons during the first five months of 2026. Uzbekistan, China and Kazakhstan also expanded their gold reserves, reflecting continued interest in gold as a strategic reserve asset.

4. What is Türkiye’s current gold reserve position?

As of June 26, 2026, the Central Bank of the Republic of Türkiye held 729.6 tons of gold valued at approximately 95.0 billion United States dollars. The country’s total official reserve assets stood at 149.2 billion United States dollars.

5. Why are central banks continuing to buy or sell gold in 2026?

Central banks adjust their gold reserves based on economic conditions, currency management strategies and reserve diversification goals. While many countries are increasing gold holdings to strengthen long-term financial stability, Türkiye temporarily reduced its reserves to improve liquidity and stabilize its domestic currency during an exceptionally volatile period.

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