Overview
- The World Gold Council survey published on June 16 found a record 45% of surveyed reserve managers plan to increase their own gold holdings and about 89% expect total official reserves to rise over the next 12 months.
- Respondents said crisis performance is a key driver for gold ownership, with 90% naming it a reason they hold bullion and 93% reporting they already hold some gold.
- Central banks are changing where they store bullion, with 9% reporting increased domestic storage in the past year and 10% saying they diversified overseas vault locations to reduce custody and access risk.
- Market reports show central banks bought a net 244 tonnes in Q1 2026 and that some firms forecast continued strong monthly buying, a pattern analysts say will support prices by tightening available supply.
- Observers note possible broader effects: some aggregate valuations reported by market data suggest gold holdings may now rival sovereign Treasuries and the shift could lower demand for dollar assets, but officials caution gold pays no yield and cannot fully replace Treasuries for liquidity or income.