Central bank gold buying around the world picked up markedly in the second quarter of 2026, with net purchases of 289 tonnes, roughly a fivefold increase from 57 tonnes in the first quarter and the highest on record for a second quarter. Poland was the largest buyer in the second quarter of 2026, adding 51 tonnes in the first quarter, bringing its first-half total to 82 tonnes, up 62 percent from a year earlier. China accelerated its accumulation to 33 tonnes in a single quarter, the most since the fourth quarter of 2023. However, central bank net purchases in the first half totalled 345 tonnes, the lowest for a first half since 2022, mainly due to heavy selling by Turkey, Russia and Azerbaijan in the first quarter, before selling subsided significantly in the second quarter. Yuanta Securities noted that the investment narrative for gold is shifting from directional price speculation towards a greater role as a portfolio diversifier. Yuanta's Chief Investment Officer has adjusted the gold view to Slightly Overweight and recommends gradually accumulating on price dips.
Yuanta Securities' CIO adjusts gold view to Slightly Overweight, recommending accumulation, which may boost its investment products and advisory business.
