World Gold Council: central banks bought just 57 tonnes in the first quarter of 2026, 187 tonnes below the initial estimate

The latest World Gold Council report, reported on Saturday, 1 August 2026 (10 Mordad 1405), shows central banks bought just 57 tonnes of gold in the first quarter of 2026, some 187 tonnes less than initial estimates. That is the weakest start to a year for official-sector buying in more than a decade, and after the revision the full-year pace is likely to fall below the 2025 level.

Central bank demand recovered between April and June 2026 to a net 289 tonnes, a record for a second quarter. Poland led the buyers with 51 tonnes in the period, taking its first-half total to 82 tonnes, while China bought 33 tonnes. A large share of these purchases is never formally announced by the monetary authorities themselves; the consultancy Metals Focus estimates them for the Council using a mix of public data, trade statistics and field research.

Spot gold has been supported around the 4,000 dollar an ounce area since late June 2026. Central banks have been the main engine of gold's multi-year rally, and a slowdown in their buying is one of the variables that feeds through to Iran's domestic gold and coin market.