Central banks kept buying gold through its worst quarter since 2013

According to World Gold Council data, the world's central banks remained net buyers of gold through the second quarter of 2026 despite a sharp drop in the price (its steepest quarterly decline since 2013); net global purchases in May 2026 were reported at about 41 tonnes. Poland leads sovereign buyers with roughly 64 tonnes since the start of 2026, while China, Uzbekistan and Kazakhstan also kept buying.

The trend shows that official reserve demand for gold remains firm over the medium term, even as the oil surge and worries over US interest-rate policy have pushed the price lower in the short term. For Iran's domestic market, where gold and coin prices track the global price and the exchange rate, the long-term direction of central-bank reserves is an important variable.