Global Central Bank Gold Purchases Reach 321 Tonnes in Q3, Says WGC

Central banks bought 321 tonnes of gold in the third quarter of 2026, the highest quarterly volume since the end of 2024, according to the World Gold Council (WGC), as per a Business Standard news report.  

The purchases were made between July and September 2026, taking estimated net buying for the first nine months of the year to 675 tonnes. The January-September total was slightly higher than the corresponding period in 2025, despite a slower start to purchases earlier this year.  

Central bank buying has remained an important source of demand during gold's multi-year price rally, which took the metal to a record high in January. 

China and Poland Account for Largest Disclosed Purchases 

China and Poland were the biggest reported buyers during the quarter, adding 63 tonnes and 41 tonnes of gold, respectively. Russia was the only major seller, reducing its holdings by 19 tonnes. 

Almost two-thirds of the estimated purchases were not disclosed directly by central banks. Metals Focus Ltd. prepares these estimates for the WGC using public disclosures, trade statistics and field research. 

Gold Prices Face Pressure from Oil and Interest Rates 

Gold prices have come under pressure in recent months as the conflict in the Middle East pushed crude oil prices higher and increased expectations of tighter monetary policy. The metal has lost around 25% of its value since the Iran war began in late February. 

Higher interest rates tend to weigh on gold because the metal does not pay interest. According to the WGC, lower prices during the third quarter may have encouraged some central banks to increase their purchases. A stronger US dollar may also have influenced buying by institutions seeking to reduce their exposure to the currency. 

ETF Holdings Rise as Jewellery Demand Falls 

Gold-backed exchange-traded funds (ETFs) recorded an increase of 211 tonnes in holdings during the third quarter, taking them to a record level. 

Jewellery demand moved in the opposite direction, falling 17% to 313 tonnes. This was the weakest third quarter in the WGC's records, which go back to 2000. Higher gold prices and tax changes in India and China led consumers towards lighter and lower-carat jewellery. 

Read More: Labour Bureau Plans to Revise CPI-IW Base Year, Expand Coverage to 130 Centres! 

Conclusion 

Central bank purchases and ETF holdings increased during the quarter, while jewellery demand declined. Net central bank buying reached 675 tonnes in the first nine months of 2026. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.