We have probably seen gold more often as an asset to seek profits or maintain currency value. But for Central Banks the story can be much bigger than just Profits or maintaining the value of the currency. IN the midst of a world that is increasingly full of uncertainty, gold is being looked at again as a way to strengthen reserves and reduce dependence on certain assets. This trend is still clearly visible until early August 2026. Central Banks are buying gold again with China and Poland being the two most aggressive names. On a YoY basis, the Central Bank experienced a decrease in purchases in January – July 2025 (160 tons), while in January – July 2026 (130 tons). With several countries on the list of aggressive countries in purchasing gold, not China but Poland with purchases of 90 tonnes, China 60 tonnes, Uzbekistan 40 tonnes. The Central Bank of Poland has a target of having around 700 tons of gold, with the current position having 640 tons or around 91% of the target that has been determined with total purchases for 41 consecutive months. Globally, Poland is ranked 10th in terms of ownership of world gold reserves. Where currently position 1 is still occupied by the United States with total gold ownership of 8,133.5 tons of gold, followed by position 2, Germany with 3,349.5 tons, and in third position is occupied by Italy with total gold ownership of 2,451.8 tons.

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