World Gold Council: Central bank gold purchases plummeted by 80% in January, but new players entering the market suggest a larger trend.

The latest data from the World Gold Council shows that central bank gold purchases in January were less than 20% of the average monthly demand in 2025, but the market saw new sovereign players enter the fray, indicating that the demand base for gold reserve accumulation is expanding. “Compared to the previous 12-month average of 27 tonnes per month, central bank gold purchases have slowed at the beginning of the year,” wrote Marissa Salim, Senior Head of Research for Asia Pacific at the World Gold Council (WGC), in her latest monthly report. “Net purchases totaled 5 tonnes in January. Gold price volatility and holiday factors may have caused some central banks to pause their actions, but geopolitical tensions, which show little sign of abating, are likely to drive gold purchases into 2026 and beyond.”