Global Central Banks Resume Net Gold Buying in April Led by Poland and China

Key Facts

1Global central banks returned to net gold buying in April with 17 tonnes purchased following heavy selling in March.

2Poland led April purchases by adding 14 tonnes, bringing its year-to-date gold acquisitions to 45 tonnes.

3The People's Bank of China extended its buying streak to 18 months, adding 8 tonnes in April.

In a move reflecting the enduring appeal of safe-haven assets among official institutions, global central banks returned to net gold buying in April with 17 tonnes purchased following a heavy selloff in March. Poland led the activity by adding 14 tonnes, bringing its year-to-date acquisitions to 45 tonnes, while the People's Bank of China extended its buying streak to an 18th consecutive month by adding 8 tonnes.

This rebound follows a volatile March characterized by large-scale selling from Turkey, yet the broader trend remains supportive as emerging economies seek to diversify reserves away from the U.S. dollar. According to World Gold Council data, China's persistent accumulation reflects a long-term strategic shift, with Beijing increasing its gold reserves by approximately 16% since it resumed reporting purchases in late 2022 (per Bloomberg reports).

Looking ahead, traders are focusing on the U.S. Core PCE Price Index release on May 28, 2026, which could dictate interest rate expectations and gold's relative attractiveness. With institutional demand providing a floor, market participants are also monitoring upcoming speeches from Fed officials through late May to gauge the dollar's trajectory against precious metals.