Gold Price and Market Update: Central Banks Keep Gold Buying in February

Central Bank Gold Buying Rebounds in February

Central banks worldwide kept buying gold in February. They bought a net 19 tonnes of gold bullion. This move rebounds from January’s low buying yet stays below 2025’s 26 tonnes monthly average. Year-to-date, banks now hold 25 tonnes, compared with 50 tonnes by the same time last year.

Key buyers include:

• Poland: Bought 20 tonnes. This marks its best month since February 2025. Poland now holds 570 tonnes in total, which is 31% of its reserves. The bank plans to reach 700 tonnes.
• Uzbekistan: Bought 8 tonnes. It has now bought gold for five straight months. Its reserves now stand at 407 tonnes, or 88% of total reserves.
• China: Added 1 tonne in its 16th straight month of buying. Its reserves now total 2,308 tonnes, equal to 10% of its total.
• Czech Republic and Malaysia: Each added 2 tonnes, marking slow yet steady gains.

Turkey and Russia sold gold in February. Turkey sold 8 tonnes and Russia 6 tonnes. Turkey saw a drop in Treasury holdings. In March, Turkey used nearly 50 tonnes of gold reserves for liquidity and foreign exchange through gold-currency swap deals.

Emerging Market Central Banks Increase Gold Reserves

African central banks are buying more gold. Uganda, for example, started a domestic buying program in March to purchase at least 100 kilograms of gold from local producers. Kenya has signaled similar plans. These moves aim to secure reserves and guard against external risks.

Gold’s Role in Reserves and the Economic Setting

Central banks keep gold because it holds safe value amid economic doubts and geopolitical risks. Despite a slower purchase pace than in past years, banks stick with gold as a main reserve asset. Banks clearly shift away from holding only paper money to defend against inflation and currency risks.

Summary

• Central banks bought a net 19 tonnes of gold in February, led by Poland, with steady buys from China, Uzbekistan, the Czech Republic, and Malaysia.
• Turkey and Russia sold gold, with Turkey using reserves for liquidity in March.
• African banks, including Uganda and Kenya, are starting to buy gold to secure their reserves.
• Gold remains a safe part of reserves in a time of global economic risks.
• Early 2026 gold moves show a steady yet cautious rate of buying.

This update brings together central bank gold figures from the World Gold Council’s latest report and shows key trends in gold price and investing.

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This article was generated by Hivebox AI in collaboration with nGRND.
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