45% of Central Banks Plan to Add Gold Reserves This Year, SocGen Expects 100-120 Tonnes Purchased in Second Half

According to the World Gold Council's latest survey, 45% of central banks expect to add to their gold reserves this year, the highest on record, while 89% anticipate continued growth in global central bank holdings over the next 12 months. This reflects ongoing demand despite gold reaching an all-time high of $5,600 an ounce.

However, Société Générale's analysts warned that geopolitical tensions in the Middle East and energy market disruptions may temper near-term purchases. The French bank expects central banks to buy between 100 and 120 tonnes of gold in the remainder of 2026, roughly double the volume recorded in the first four months, supported by UK trade data and London Bullion Market Association vault holdings.