Central banks help drive gold rush

Official sector gold holdings to increase amid high global uncertainty, says World Gold Council

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More than nine in 10 reserve managers say they expect central banks to continue increasing their gold holdings in the next 12 months, according to a new survey released by the World Gold Council.

The figure — 95% — is a record high since it was first tracked in a 2019 survey by the council and represents an increase of 17 percentage points from the 2024 findings.

The 2025 Central Banks Gold Reserves (CBGR) survey, which collected data from 73 of the world's central banks, also finds that 43% of central banks plan to add to their own gold reserves within the next year.

Reserve managers' favourable view of gold persists even in the face of record-high gold prices and 15 successive years of central bank gold buying.