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Central bank gold buying cooled in 2025 but stayed far above historical norms
Central banks bought 863.3 tonnes of gold in 2025, down 21% year on year Q4 purchases rebounded to 230 tonnes, up 6% quarter on quarter Demand remained well above the 2010–2021 average of 473 tonnes Poland, Kazakhstan and Brazil led reported buying, while opaque purchases stayed significant Buying slows, but remains historically strong Central bank gold buying moderated in 2025, but remained far above recent historical averages. According to data compiled by the World Gold Council, official sector purchases totaled 863.3 tonnes for the year, marking a 21% decline from 2024 and the lowest annual total since 2021. ... (full story)