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2026-11-03 14:16:25
[World Gold Council: Central Banks' Gold Purchases Hit New High Since 2024 in Q3] ⑴ A report released by the World Gold Council shows that against the backdrop of rising oil prices and a high-interest-rate environment, global central banks made net purchases of 307 tons of gold in the third quarter, marking the highest pace of purchases since the end of 2024. ⑵ In the first nine months of this year, central banks collectively increased their gold holdings by a net 642 tons, slightly higher than the same period last year, becoming an important support for gold prices. ⑶ China and Poland were the main buyers this quarter, increasing their holdings by 58 tons and 37 tons respectively; Russia was the main seller, reducing its holdings by 16 tons during the period. ⑷ Strategists from the World Gold Council analyzed that the phased correction in gold prices attracted some central banks to buy on dips, and the strengthening of the US dollar also prompted some central banks to actively adjust their reserve structures and increase their gold holdings to hedge risks. ⑸ Market opinions suggest that continued central bank gold purchases can provide medium- to long-term support for gold prices, but are unlikely to completely offset the downward pressure from rising real interest rates.
