Central banks worldwide are increasing gold holdings as geopolitical uncertainty and reserve diversification remain top priorities.
According to the World Gold Council’s “2026 Central Bank Gold Reserves Survey,” 89% of central banks expect global gold reserves held by monetary authorities to increase over the next 12 months, and a record 45% anticipate boosting their own gold holdings.
The survey also points to a longer-term shift in the composition of global reserves. Nearly 84% of respondents expect gold to account for an increased share of total reserves within five years. Meanwhile, 74% believe the U.S. dollar’s share of global reserves will decline over the same period.
Alongside increasing gold purchases, central banks are also rethinking where they store their bullion. The survey found that 9% of respondents increased domestic gold storage over the past year, while 10% diversified their overseas storage arrangements. The trend reflects a desire among some reserve managers to reduce concentration risk and ensure access to national reserves during periods of geopolitical tension.
Gold’s enduring appeal stems from the qualities that central banks desire most in reserve assets. Respondents cited gold’s performance during times of crisis and its effectiveness as a portfolio diversifier as the leading reasons for holding the precious metal. Many also view gold as a hedge against geopolitical risk and a safeguard against financial instability.
With central banks already purchasing roughly 1,000 metric tons of gold annually over the past four years and many planning to continue adding to reserves, sustained official-sector demand could provide ongoing support for gold prices.
