Conclusion

16 June, 2026

This year marks the ninth edition of our annual Central Bank Gold Reserves Survey. Over that time, positive sentiment towards gold has increased notably. Optimism about gold’s future role as a reserve asset has grown alongside a desire by respondents to add more gold to their reserves. Central banks increasingly view gold as an active and important strategic asset within their reserve portfolios. Ongoing economic and geopolitical uncertainty continues to weigh on reserve managers, as this year’s findings highlight. Concerns over interest rates, the inflation outlook and geopolitical uncertainty, show that diversification and risk mitigation continue to be key drivers of strategic reserve management decisions. This year’s survey reveals an emergent trend of central banks increasingly looking to diversify gold vaulting locations. And while there are divergences between advanced economy and EMDE central banks in some aspects, they share a common confidence in gold’s role as a reliable store of wealth and a key component in their long-term reserve management strategies.

As the world becomes increasingly volatile and unpredictable, gold’s safety, liquidity and return characteristics – the three key investment objectives for central banks – have risen in importance. The trends uncovered in our survey suggest that central banks continue to recognise the benefits of an allocation to gold and indicate that their demand for gold will likely remain healthy into the foreseeable future.


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