Global Central Banks Resume Net Gold Purchases in April, Chinese Central Bank Increases Holdings for 18th Consecutive Month

June 4 – The World Gold Council’s latest report signals a turnaround in global central bank gold moves: After heavy net selling in March, April brought a return to buying, with central banks adding a net 17 tons of gold that month. Even so, total purchases in April remained lower than the same period last year. Poland led all nations with 14 tons in April, bringing its year-to-date total to 45 tons and boosting its gold reserves to 595 tons. The People’s Bank of China (PBOC) added 8 tons in April – its largest single-month jump since December 2024 – lifting China’s gold reserves to 2,322 tons and marking 18 straight months of gold purchases. The Czech National Bank extended its gold buying streak to 38 months, adding 2 tons in April. On the selling front: The Central Bank of Russia continued unloading gold, net selling 6 tons in April. Year-to-date sales hit 22 tons, the fourth consecutive month of net selling. Uzbekistan trimmed its gold holdings by 1 ton in April, though it still has a 24-ton year-to-date gain; gold now makes up a massive 88% of Uzbekistan’s foreign reserves. The WGC notes Eastern European and Asian central banks are the backbone of global official gold demand. Over the past 36 months, these two regions averaged 12 tons and 11 tons in monthly gold buys respectively, sustaining global market support. A 2025 survey finds 95% of central banks expect global official gold reserves to keep growing next year, while 43% plan to add more gold – up from 29% last year.