Central Banks Bought 244 Tonnes of Gold in Q1 2026: Why the Rally Has Further to Run

Global central banks added a staggering 244 tonnes of gold to their reserves in the first quarter of 2026, marking the highest quarterly total since late 2024 and surpassing the five-year average, according to the latest data from the World Gold Council.

The buying spree was led by Poland (31 tonnes), Uzbekistan (25 tonnes), and China (7 tonnes), with central banks now exceeding 200 tonnes of quarterly purchases in 10 of the last 11 quarters.