Central banks remain firm on gold accumulation in February, having bought a net 19t. This was a rebound from the lull we saw in January, though lower than the monthly average of 26t reported in 2025. Just two months into the year, central banks have bought 25t, a pace much slower than the same period last year (50t). Reported activity in February was concentrated in: The National Bank of Poland drove much of this month’s buying activity, having bought 20t. This brings its total gold reserves to 570t, lifting its share of total reserves to 31%. The bank has set a target of 700t of gold, as announced by its Governor ... (full story)