The Central Bank Gold Statistics report by the World Gold Council shows that global central banks continued buying gold in January 2026, but the pace slowed compared to last year. According to the report, central banks made net purchases of 5 tonnes of gold in January, significantly lower than the average monthly buying of about 27 tonnes in 2025, likely due to volatile gold prices and the holiday season. Despite the slower start, demand remains strong and is expanding to more countries. Major buyers included Uzbekistan (9 tonnes), Malaysia (3 tonnes), the Czech Republic and Indonesia (2 tonnes each), and China and Serbia (1 tonne each), while Russia was the largest seller with 9 tonnes, and a few others like Bulgaria, Kazakhstan, and the Kyrgyz Republic also reduced holdings.
The report also highlighted that South Korea plans to start investing in gold ETFs in 2026, marking its first gold-related investment since 2013. Overall, the World Gold Council report suggests that although buying momentum eased at the start of the year, central banks are still increasing their gold exposure as part of reserve diversification amid geopolitical uncertainty and a shifting global economic order.
CENTRAL BANK GOLD STATISTICS DETAILS
According to the report by the World Gold Council, central banks purchased a net 5 tonnes of gold in January 2026. While this is still positive demand, it is much lower than the average monthly purchase of about 27 tonnes recorded in 2025.
The report suggests that volatile gold prices and the holiday season may have slowed buying activity at the start of the year. However, geopolitical tensions and economic uncertainty are expected to keep gold demand strong among central banks in the coming months.
The World Gold Council report shows that buying activity was mainly concentrated in Central Asia, East Asia, and parts of Eastern Europe.
Among the major buyers:
- Uzbekistan bought 9 tonnes of gold, continuing its steady accumulation since late 2025. This pushed the country’s gold reserves to 399 tonnes, with gold now making up about 86% of its total reserves.
- Malaysia’s central bank purchased 3 tonnes, marking its first gold purchase since 2018.
- Other buyers included the Czech Republic (2 tonnes), Indonesia (2 tonnes), and China and Serbia (1 tonne each).
China’s purchase also extended its 15-month gold buying streak, pushing its gold reserves to nearly 10% of its total foreign reserves, according to the World Gold Council report
While several central banks added gold, some reduced their holdings.
- Russia was the largest seller, reducing its gold reserves by 9 tonnes in January.
- Bulgaria’s central bank sold 2 tonnes, transferring the gold to the European Central Bank as part of the country’s adoption of the euro in January 2026.
- Kazakhstan and Kyrgyz Republic also reduced reserves by 1 tonne each.
KOREA EXPLORING GOLD ETFs
One of the interesting developments mentioned in the World Gold Council report is that the Bank of Korea plans to invest in overseas-listed physical gold ETFs starting in 2026.
This will be the country’s first gold-related investment since 2013. The central bank cited better liquidity and easier trading as the main advantages of using ETFs instead of buying physical gold directly.
Currently, South Korea holds about 104 tonnes of physical gold, which accounts for roughly 4% of its total reserves
CENTRAL BANK GOLD STATISTICS OUTLOOK
A key takeaway from the report by the World Gold Council is that the base of central banks interested in gold is expanding.
Some countries that had paused gold buying for years are now returning to the market. Analysts say this trend reflects how nations are diversifying their reserves and reducing reliance on traditional currencies during uncertain geopolitical conditions.
The report also notes that ongoing geopolitical tensions and shifts in the global economic order are likely to keep gold attractive for central banks in the coming years.
Overall, the World Gold Council report indicates that while January saw a slower start to the year, central banks are still accumulating gold as part of long-term reserve strategies.
As global economic uncertainty and geopolitical tensions continue, gold is expected to remain a key safe-haven asset for governments and central banks worldwide, according to the latest research by the World Gold Council.
FAQs
1. How much gold did central banks buy in January 2026?
According to the latest report by the World Gold Council, central banks purchased a net 5 tonnes of gold in January 2026, which is lower than the monthly average of 27 tonnes recorded in 2025.
2. Which countries bought the most gold in January 2026?
Uzbekistan was the largest buyer with 9 tonnes, followed by Malaysia (3 tonnes), while Czech Republic and Indonesia purchased 2 tonnes each. China and Serbia also added small amounts to their reserves.
3. Why are central banks buying gold?
Central banks buy gold mainly to diversify their foreign exchange reserves, reduce reliance on major currencies, and protect against geopolitical and economic uncertainty.
4. Which countries sold gold in January 2026?
Russia was the largest seller with 9 tonnes, while Bulgaria, Kazakhstan, and Kyrgyz Republic also reduced their gold holdings.
5. What new trend did the World Gold Council report highlight?
The report highlights a broadening demand base, with countries like Malaysia resuming gold purchases after years and South Korea planning to invest in gold ETFs as part of its reserve strategy.
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