WGC – Central Bank Gold Reserves Survey, Jun 2025

Central banks have accumulated over 1000 tonnes of gold each year for the past three years, significantly above the average of the previous decade.

95% of respondents believe that global central bank gold reserves will increase over the next 12 months. 43% of respondents expect to increase their own gold reserves over the same period. Gold is viewed as a strategic asset, especially during crises, for portfolio diversification and inflation protection. A decrease in the share of dollar assets in global reserves is expected, while the share of euro, yuan, and gold is anticipated to increase. The number of respondents actively managing their gold reserves increased from 37% in 2024 to 44% in 2025.