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Precious metals surge to historic heights as central banks drive unprecedented demand
Central bank gold purchases totaled 244 tonnes in Q1 and 166 tonnes in Q2 2025, maintaining the structural support that has underpinned the precious metals rally. Poland emerged as the leading global buyer, adding 67 tonnes through May as it targets increasing gold to 20% of total reserves by 2026. China resumed purchases after a six-month pause, though actual acquisitions likely exceed reported amounts by 2-3 times through off-market transactions. The World Gold Council notes that only 22% of central bank demand was officially reported in Q1, suggesting widespread undisclosed accumulation. The Federal Reserve's July ... (full story)