London, 30 July 2026 – Central banks reduced the pace of gold purchases in early 2026 as record prices and increased selling changed the economics of reserve accumulation, challenging one of the strongest pillars behind bullion’s multi-year rally.
Estimated net buying reached 244 tonnes in the first quarter when unreported activity was included, but officially disclosed purchases were far lower and sales by some reserve managers increased. The distinction matters because official data often arrives with delays, while large transactions can remain opaque. Even so, the direction points to a cooling in demand from the extraordinary annual levels seen in recent years.
Unlock the Full Article
This article is exclusive to The Ledger Asia Subsribers / PAID members.
Already have an account? Log in here
