The World Gold Council released its “Global Central Bank Gold Reserves Survey 2025” on June 17, revealing that nearly 43% of the 73 central banks surveyed plan to increase their gold reserves within the next year. Despite gold prices hitting new highs and global central banks recording 15 consecutive years of net gold purchases, the appetite for gold among central banks remains strong.
Key findings from the survey include:
Increasing Gold Holdings: Over 95% of the central banks surveyed believe that global central banks will continue to increase their gold holdings in the next 12 months. This proportion is a new record since the first survey in 2019 and has risen by 17 percentage points compared to 2024.
Motivations for Holding Gold: The three main reasons for central banks to hold gold are its long-term value storage function (80%), its role in effectively diversifying investment portfolios (81%), and its performance during crises (85%).
Domestic Storage of Gold: An increasing number of central banks are choosing to store gold within their own borders. 59% of the surveyed central banks said their gold reserves were held domestically, up from 41% in 2024.
Shift in Global Reserves: 73% of the surveyed central banks expect the share of the US dollar in global reserves to decline moderately or significantly over the next five years. Conversely, they anticipate an increase in the share of other currencies, such as the euro and the Chinese yuan, as well as gold, in global reserves.
Shaokai Fan, head of global central banks and Asia-Pacific (excluding China) at the World Gold Council, highlighted the significance of the survey results: “Our central bank gold reserve survey, which has lasted for eight years, has finally reached a crucial milestone—nearly half of the surveyed central banks plan to increase their gold reserves within the next year.” Given that gold prices have hit new highs more than 20 times since 2025, this trend is particularly notable. It reflects the current global financial and geopolitical environment, where gold remains a strategic asset. Central banks are closely monitoring issues such as interest rates, inflation, and unstable situations, prompting them to increase gold reserves as a hedge against risks.
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