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The World Gold Council released its 2026 Central Bank Gold Reserves Survey on June 16, 2026, covering responses from 76 central banks. The headline finding: a record 90% of respondents cited gold’s performance during crises as a primary reason to hold it. That’s the highest figure the survey has recorded in its history.
The numbers behind the shift
According to the survey, 45% of respondents said they plan to increase their gold reserves over the next 12 months. That’s the highest share since the survey began tracking forward-looking intentions.
Meanwhile, 89% of respondents expect global central bank gold reserves to rise overall in the coming year. The survey also revealed that 93% of respondents currently hold gold, up from 81% in the previous survey.
Central banks have averaged 1,000 tonnes of gold purchases annually over the past four years. That’s double the pace of the previous decade.
The survey found that 50% of central banks are sourcing gold through domestic purchases in local currency, while 38% are drawing on sales of other reserve assets.
The dollar question underneath everything
The survey found that 74% of central banks anticipate a moderate or significant decline in the dollar’s share of global reserves over the next five years.
The freezing of Russian sovereign assets following the 2022 Ukraine invasion sent a message to every central bank holding dollar-denominated reserves: currency assets can be weaponized. Gold held domestically cannot. The current geopolitical climate, including recent Middle East conflict, has only reinforced that calculation for many institutions.
Beyond crisis insurance, the survey showed that 84% of respondents cited long-term value retention as a reason to hold gold, and 82-83% pointed to portfolio diversification.
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