Central banks purchased a net 17 tonnes of gold in April, rebounding from net sales in March, according to the World Gold Council (WGC). Poland led purchases with 14 tonnes, while China bought 8 tonnes — its highest monthly purchase since December 2024 and the 18th consecutive month of buying. The return to net purchases reflects continued demand from Eastern European and Asian central banks, which have averaged 12 tonnes and 11 tonnes per month respectively over the past 36 months.
Poland and China Lead April Purchases
Poland remained the top buyer in April with 14 tonnes, bringing its year-to-date gold purchases to 45 tonnes, according to Marissa Salim, WGC Senior Research Lead, APAC. Poland's gold reserves now stand at 595 tonnes, representing approximately 30% of its total reserves.
China's 8-tonne net purchase in April marked its highest monthly acquisition since December 2024 and extended its buying streak to 18 consecutive months. Official gold reserves in China now stand at approximately 2,322 tonnes, or 9% of total reserves.
The Czech Republic bought 3 tonnes in April, its 38th consecutive monthly purchase. The Czech National Bank's gold reserves now total 79 tonnes, representing 6% of its total reserves.
Regional Buying Patterns Show Consistency
Eastern European and Asian central banks continue to dominate the buying side with consistent monthly purchases. Over the past 36 months, both regions have purchased 12 tonnes and 11 tonnes per month on average collectively. Global central banks show average net purchases of 29 tonnes over the same period, according to WGC data.
Russia and Uzbekistan Report Sales in April
Russia continued its sales streak in April with 6 tonnes sold, bringing year-to-date sales to 22 tonnes. The Central Bank of Uzbekistan sold 1 tonne in April, though on a year-to-date basis it remains a net purchaser with 24 tonnes, second only to Poland. Uzbekistan's gold reserves make up 88% of its total reserves, totaling around 414 tonnes.
The Central Bank of the Republic of Turkey, which was the top seller in March, reported virtually flat gold reserves in April. Weekly data showed that short-term gold/USD swaps matured in April, leaving only longer-term (1-3 month) gold/USD swaps outstanding.
WGC Survey Shows Rising Central Bank Interest
The World Gold Council's ninth annual Central Bank Gold Reserves Survey 2026 will be released this month and will provide insights into the central banking community's strategic views on gold as a reserve asset.
In the WGC survey in 2025, central banks held favorable expectations on gold, with 95% of respondents indicating that global central bank gold reserves will increase over the next 12 months, compared to 81% of respondents in the 2024 survey. 43% of respondents believed their own gold reserves would increase over the same period in 2025, compared to 29% in the 2024 survey.
FAQ
How much gold did central banks buy in April?
Central banks purchased a net 17 tonnes of gold in April, according to World Gold Council data. This represented a rebound from net sales reported in March.
Which countries were the largest gold buyers in April?
Poland was the top buyer with 14 tonnes, followed by China with 8 tonnes and the Czech Republic with 3 tonnes. China's 8-tonne purchase was its highest monthly acquisition since December 2024.
