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Central Banks Extend Gold Buying Spree Amid Global Currency Shifts
Central banks bought 74 tonnes of gold in October, continuing aggressive reserve diversification away from the U.
World Gold Council data show central banks purchased over 74 tonnes of gold in October, led by China, Turkey and India, as part of ongoing reserve diversification. The buying reflects moves to reduce exposure to the U.S. dollar and shield reserves from geopolitical risk. Analysts say sustained official-sector demand provides a strong floor for gold prices heading into 2026. Central banks have now added nearly 1,000 tonnes of gold year-to-date — the fastest accumulation pace in over five decades.