Recently, gold and silver prices have increased significantly. Gold prices have increased by 265% in the five-year period from 2020 to 2025. During this period, the central banks of many countries, including China, Poland, Turkey, and India, bought large amounts of gold. However, many countries have reduced their gold reserves in the last five years. These include the Philippines, Kazakhstan, Sri Lanka, Germany, Mongolia and Tajikistan.
China tops the list of countries that will buy the most gold from 2020 to 2025. China has bought 357.1 tonnes of gold in the last five years. However, experts say that China secretly bought much more gold than this. After China, Poland was the second largest buyer of gold. This European country bought 314.6 tonnes of gold in the last five years. This was followed by Turkey (251.8 tonnes) and India (245.3 tonnes). During this period Brazil bought 105.1 tonnes, Azerbaijan (83.6 tonnes), Japan (80.8 tonnes), Thailand (80.6 tonnes), Hungary (78.5 tonnes) and Singapore (77.3 tonnes).
Central Bank Gold Reserves. Biggest changes (2020–2025)
Most purchased (tonnes added):
1． China +357.1⁰2． Poland +314.6⁰3． Türkiye +251.8⁰4． India +245.3⁰5． Brazil +105.1⁰6． Azerbaijan +83.6⁰7． Japan +80.8⁰8． Thailand +80.6⁰9． Hungary +78.5…
— World of Statistics (@stats_feed) February 12, 2026
Top selling
The Philippines topped the list of countries that sold the most gold over the past five years, selling 65.2 tonnes. Kazakhstan sold 52.4 tonnes. Similarly, Sri Lanka, facing an economic crisis, sold 19.1 tonnes. Germany's gold reserves fell by 16.3 tonnes between 2020 and 2025, while Mongolia sold 15.9 tonnes. Tajikistan sold 11.9 tonnes, Euro area 10.8 tonnes, Colombia 9.2 tonnes and Finland 5.4 tonnes.
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