A record number of central banks are preparing to increase their gold reserves, according to newly released survey data from reserve managers worldwide. A record 45% of respondents plan to increase gold holdings over the next 12 months, highlighting the metal’s importance within official reserve portfolios.
The survey, conducted among 76 central banks between February and May 2026, found that confidence in gold remains exceptionally strong despite elevated prices. Nearly 89% of respondents expect total global central bank gold holdings to increase over the coming year, while 83% believe gold will account for a larger share of reserve portfolios over the next five years. At the same time, 74% expect the U.S. dollar’s share of global reserves to decline.
The findings carry significance beyond the gold market itself. Central banks collectively manage trillions of dollars in reserve assets, and their allocation decisions often provide insight into how policymakers view financial stability, economic risks, and long-term reserve management priorities.
Growing Interest in Gold
The most notable finding from the survey is the continued rise in institutions planning to expand their bullion reserves. The proportion increased from 43% last year to 45% this year, establishing a new record since the survey began.
The data also highlights a growing preference for diversification among reserve managers. Rather than relying heavily on a single asset class, many institutions are seeking a broader mix of holdings that can help strengthen resilience during periods of uncertainty.
Why Central Banks Prefer Gold
Survey participants identified several factors supporting demand for gold. Around 90% cited the metal’s performance during periods of crisis as a major reason for holding it. Meanwhile, 84% highlighted its long-term ability to preserve value, while 82% pointed to diversification benefits within reserve portfolios.
For policymakers, gold offers characteristics that many financial assets cannot. It carries no direct counterparty risk and remains independent of the fiscal or monetary policies of any single country. Therefore, many reserve managers continue to view it as an important component of their overall reserve strategy.
Central Banks Keep Buying
The survey results are supported by actual market activity. Central banks added approximately 244 tonnes of gold during the first quarter of 2026, continuing a pattern of strong official-sector demand.
Several institutions remained active buyers during the quarter. Poland continued expanding its holdings, while China maintained steady accumulation through its central bank. Purchases from other emerging-market economies also contributed to sustained demand across the global market.
Survey Highlights
The latest data provides a clear picture of how reserve managers currently view gold. With a record 45% planning to increase holdings and nearly nine out of ten expecting global official reserves to rise, confidence in the metal remains exceptionally strong.
While reserve strategies vary across countries, the survey points to one clear trend: confidence in gold remains strong among reserve managers. With a record share of respondents planning to increase holdings, official demand for the metal continues to remain resilient.