Central Banks Bought 289 Tons of Gold in One Month

Central banks bought 289 tons of gold in a single month. That is a Q2 2026 record, up 62% from a year earlier, according to the World Gold Council.

The largest purchases came from Asia, Eastern Europe and the Middle East. The dollar's share of global reserves has now fallen to its lowest level since 1994, and the buying is still going while gold sits at a record high.

What Happened

• 289 tons bought by central banks in Q2 2026, a record and a 62% jump year-on-year.
• Q1 2026 hit $37 billion, a record for a single quarter.
• BRICS+ now holds 17.4% of the world's gold reserves.
• Kazakhstan set its own record this year. Brazil started buying again after four years away.
• The dollar's share of reserves is at its lowest since 1994.

Why It Matters

The World Gold Council's numbers point to something other than speculation or FOMO. This is a reconfiguration of global foreign reserves, with central banks spread across Asia, Eastern Europe and the Middle East all reducing their reliance on a single currency.

Gold is at a record high and they are still buying, which tells you the decision is about diversification rather than price. Reserve managers do not chase rallies, they balance risk. If the biggest balance sheets in the world are rebalancing away from the dollar, that is the same conversation any member learning about portfolio diversification is having on a much smaller scale.