According to calculations by the research company Best Brokers, which analyzed data from the World Gold Council (WGC), the central banks of Poland and Kazakhstan have renewed their gold reserves most actively since the beginning of the year. They bought 67.1 tons and 32.4 tons of this precious metal, respectively. China closed the top three positions, as its central bank increased its gold reserves by 22.7 tons since the beginning of the year.
Turkey, the Czech Republic, Cambodia, Ghana, Qatar, India, and Serbia were also listed among the top 10 central banks for gold purchases this year. Analysts point to an increase in demand for gold against the backdrop of rising prices for this asset, which is traditionally considered safe in times of market instability and geopolitical uncertainty.
At the same time, some countries have reduced their gold reserves since the beginning of the year. The central bank of Uzbekistan was the world’s leading central bank in terms of stock reduction, having sold 16.8 tons, followed by Singapore (15.8 tons), Indonesia (12.9 tons), Russia (6.2 tons), and Germany (1.3 tons). The report indicates that Russia reduced its gold reserves in 2025 after 17 years of continuous renewal, which lasted until 2023, after which the reserves remained unchanged for two years.
The largest 5 countries in the world in terms of gold reserves in the central bank now include the United States
(8133 tons), Germany (3350 tons), Italy (2451 tons), France (2437 tons), and Russia (2329).