The central banks of the world have been steadily increasing their gold reserves and this trend continued in August as well. Total net gold purchases by central banks stood at 39 tonnes in August. China led the buying and increased its gold reserves for the 22nd month in a row. Poland and Uzbekistan are also named among the big buyers. However, some countries have also sold ‘gold’ in August.
In August, the world’s central banks bought a total of 39 tonnes of gold net. Major central banks, which have continued to buy gold in 2026, continued their activity in August as well. China led the way, while Uzbekistan and Poland were also major buyers. Total reported gold purchases by central banks so far in 2026 have been 170 tonnes.
The National Bank of Poland bought 8 tonnes of gold in August. Poland has bought 98 tons of gold so far this year, leading the year-to-date buying. China is also moving faster than Poland. Poland now has 648 tonnes of gold and looks to be approaching its target of 700 tonnes.
The People’s Bank of China added 20 tonnes more to its gold reserves in August. This is the 22nd consecutive month that China has bought gold. So far in the year 2026, China has bought 80 tons of gold. In this matter it is second only to Poland. China’s official gold reserves now account for 9% of total reserves. China has about 2,387 tons of gold.
The Central Bank of Uzbekistan bought 8 tonnes of gold in August. So far in the year 2026, its gold purchases have reached around 50 tonnes. Gold now accounts for 90% of Uzbekistan’s total reserves, with around 439 tonnes of gold. The National Bank of Kazakhstan bought 7 tonnes of gold in August. Its gold purchases so far in the year 2026 are around 36 tonnes. Gold now accounts for 79% of Kazakhstan’s total reserves. It has about 377 tonnes of gold.
The Czech National Bank has been buying gold for the past 42 consecutive months. In August also he bought 2 tonnes of gold. So far in the year 2026, the bank has purchased 14 tonnes of gold. After this its gold reserves have reduced to 7% of total reserves. The bank has a total of 86 tonnes of gold.
The Central Bank of the Republic of Turkey bought 3 tonnes of gold in August. Before this, it had net sales of gold for three consecutive months. Turkey has sold 82 tons of gold net so far in 2026. Most of these sales took place in the first quarter of 2026. Bolivia and Ghana were also buyers in the gold market in August. Both bought about 1 ton of gold each.
The Central Bank of Russia continued its net sales in August and sold 6 tonnes of gold. So far in the year 2026, Russia has sold 56 tons of gold. Russia now has a total of 2,271 tons of gold. The Central Bank of Jordan also sold 3 tonnes of gold in August. Jordan has bought 2 tons of gold so far in 2026. After this it has 75 tonnes of gold, which is about 37 percent of its total reserves.
Between 2016 and 2025, central banks’ gold purchases have seen some limited changes. However, the variation between different years has been huge. Economic or geo-political unrest may have contributed to this. Further analysis is needed to identify the strong and consistent reasons behind this.
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