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World Gold Council: Global Central Banks Buy Only 57 Tonnes of Gold in 1Q, Way Less than Forecast
2026-07-30 15:04:29 The World Gold Council (WGC) said central banks around the world purchased far less gold at the beginning of the year than previously expected. Although demand rebounded afterwards, purchases for the full year are expected to decline. Central banks bought only 57 tonnes of gold in 1Q, 187 tonnes below previous expectations and marking the smallest first-quarter purchase volume in more than a decade. However, demand recovered sharply in 2Q, with net purchases reaching 289 tonnes, the second-highest second-quarter level on record. Poland purchased 51 tonnes, being the largest buyer, while China bought 33 tonnes. Spot gold prices have retreated about 27% after hitting a record high of USD5,595 per ounce in January 2026, and last quoted at USD4,035 per ounce. The decline came as rising energy costs intensified inflation concerns, delaying market expectations for interest rate cuts. ~ AASTOCKS Financial News Website: www.aastocks.com | |