Central Banks Lead Historic Gold Buying Spree to Diversify Reserves Since 2020

Global central banks have engaged in one of the most significant gold-buying waves in modern history, with the top 15 buyers accumulating nearly 2,000 net tonnes since 2020. Leading this trend, China added over 350 tonnes to its reserves as part of a strategic effort to diversify away from the U.S. dollar. Poland also emerged as a major player, increasing its holdings by more than 300 tonnes to bolster national monetary security. This surge in demand is primarily driven by a broader de-dollarization trend, persistent global inflation, and rising geopolitical uncertainties. Analysts suggest that this sustained institutional interest provides a strong structural floor for gold prices (XAU/USD) in the long term. The movement reflects a fundamental shift in global reserve management, with emerging markets and Eastern European nations prioritizing gold as a stable hedge.