Global Central Banks Lift Gold Purchases by 10% in Q3 2025

Central banks bought 220 tonnes of gold in the 3rd quarter of 2025, as per the World Gold Council’s Gold Demand Trends Q3 2025 report. This was 28% higher than the 172 tonnes purchased in the previous quarter. Compared to Q3 2024, when 199.5 tonnes were added, the latest figure shows a 10% year-on-year increase. The pickup follows two quarters of slower buying.

9-Month Total Close to 2024 Levels

In the first nine months of 2025, central banks together added 634 tonnes of gold to their reserves. This was slightly below the 724 tonnes purchased during the same period in 2024. The figures indicate that demand has stayed relatively stable despite fluctuations across quarters.

India’s Gold Holdings Rise

The Reserve Bank of India bought close to 600 kilos of gold between April and September this year. With these additions, India’s total gold reserves stood at around 880 tonnes by the last week of September. The RBI has been consistently adding to its holdings during 2025.

Major Buyers in Q3 2025

The National Bank of Kazakhstan led reported purchases in the third quarter with 18 tonnes. The Central Bank of Brazil followed with 15 tonnes, marking its first gold acquisition since 2021. The WGC report also noted that about 66% of central bank demand in Q3 2025 was unreported, a trend that has continued since 2022.

Rise in Gold-Backed Investments

Holdings in exchange-traded funds and similar gold-backed products reached 221 tonnes during the quarter. This was 134% higher than a year earlier and up 30% from the previous quarter.

Read More: India's Gold Reserves Jump $31 Billion in FY26 Due to RBI Buying and Price Boom!

Conclusion

Global central banks increased their gold purchases in Q3 2025 after two slower quarters. The quarter saw both reported and unreported buying activity remain steady, keeping overall demand close to previous-year levels.

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