Central banks worldwide are showing the highest gold purchase willingness since 2018, and the gold price correction is seen as a buying opportunity.

BlockBeats News, June 16 — According to the latest survey released by the World Gold Council, global central banks’ willingness to allocate gold continues to build momentum. Against the backdrop of a pullback in a high gold-price environment, “buying on dips” is becoming an important strategy for some countries’ reserve management.

The survey results, conducted jointly by the organization and YouGov among 74 central banks, show that 45% of the surveyed central banks plan to increase their gold reserves within the next 12 months. This is the highest level since data collection began in 2018. At the same time, only 1 central bank said it would reduce its gold holdings. This structural finding indicates that, although the gold price has recently fallen back from its peak, long-term allocation demand from the global official sector has not weakened.

The report notes that gold prices have doubled over the past three years, driven by central banks’ continuous net purchases, but the market environment has changed since 2026. Developments in the Middle East have driven fluctuations in energy prices, while also reinforcing market expectations that “interest rates will remain high for a long time,” which has suppressed the short-term appeal of non-yielding assets like gold. In addition, speculative funds have temporarily pulled back intermittently, and gold prices have retreated to their lowest levels since last November.

In terms of structure, emerging markets and developing economies remain the main force behind future gold purchases. The survey shows that about 53% of central banks in this category plan to continue increasing their gold holdings, while the figure for central banks in developed economies is only 18%, reflecting a clear divergence across different economies in reserve diversification and risk hedging.

Shaokai Fan said that the price pullback is reactivating the buying momentum of some central banks: “Price declines have provided some central banks with entry opportunities.” He pointed out that in 2025, many central banks chose to stand by because gold prices were high, but the current pullback is changing the pace of this decision-making.

In terms of gold acquisition methods, about half of the central banks planning to increase their gold holdings tend to purchase gold directly from their domestic mining system using their local currency, reducing consumption of foreign exchange reserves. Another 38% choose to rebalance through the sale of other reserve assets. This means that gold is gradually evolving from an “alternative to foreign exchange reserves” into a “tool for reallocating assets within the system.”