A record 45% of central banks anticipate increasing their gold holdings in 2026, highlighting bullion’s role as a key reserve asset in uncertain macroeconomic and geopolitical times, according to the World Gold Council.
Central banks are signalling that gold will remain a favoured reserve asset, with the World Gold Council saying its 2026 survey found a record 45% of respondents expect their own gold holdings to rise over the next 12 months.
The survey, conducted between 5 February and 19 May with 76 eligible responses from central banks worldwide, comes after four years in which official institutions accumulated an average of 1,000 tonnes of gold a year, roughly double the 500-tonne average seen over the previous decade. The World Gold Council said the sample was broadly representative of the global central banking community, both by geography and by gold ownership.
The findings suggest the recent buying spree has not been a short-lived response to market turbulence. Instead, central bankers appear to view bullion as a structural part of reserve management, particularly in an environment shaped by geopolitical tension, inflation concerns and uncertainty about the outlook for major currencies.
A striking 89% of respondents said they expect global central bank gold reserves to increase over the coming year. While most said their own holdings would stay unchanged, 45% anticipated an increase in their institution’s stockpile, up from 43% a year earlier. Only 1% expected a decline.
The survey also points to a broader shift in reserve composition over the medium term. Some 84% of respondents said gold will account for a larger share of total reserves in five years’ time, while 74% expect the US dollar’s share to fall over the same period. Views on the dollar were shared across advanced economies and emerging markets and developing economies.
Central banks cited several reasons for holding more gold, including its performance during crises, its diversification benefits and its value as an inflation hedge. The World Gold Council said respondents also pointed to gold as a hedge against geopolitical risk and as part of a wider reserve diversification strategy.
If they do buy more, many plan to fund those purchases domestically. Half of respondents said they would use a local-currency purchase programme, while 38% said they would sell existing reserve assets.
The survey also shows how institutions are thinking about storage. The Bank of England remained the most popular location for vaulting, chosen by 57% of respondents, followed by domestic storage at 49% and the Bank for International Settlements at 16%. Preference for the Swiss National Bank fell to 6% from 12% in 2025.
There was also a noticeable rise in efforts to move or spread holdings. Nine per cent of respondents said they had increased domestic storage over the past year, while 10% had diversified overseas vaulting locations. Looking ahead, 7% plan to raise domestic storage and 9% intend to broaden overseas storage options.
The broader message from the survey is clear: central banks remain deeply constructive on gold. In an era of unsettled geopolitics and uncertain macroeconomic conditions, reserve managers appear to be treating bullion less as a passive holding and more as a strategic asset.
- https://www.zerohedge.com/markets/record-percentage-central-banks-expect-gold-reserves-increase-next-12-months – Please view link – unable to able to access data
- https://www.gold.org/goldhub/research/central-bank-gold-reserves-survey-2026 – The World Gold Council’s 2026 Central Bank Gold Reserves Survey reveals that central banks have accumulated an average of 1,000 tonnes of gold over the past four years, doubling the previous decade’s average of 500 tonnes. This acceleration in gold accumulation coincides with geopolitical and economic uncertainties affecting reserve managers’ outlooks. The survey, conducted between 5 February and 19 May 2026, includes insights on central bankers’ perspectives on gold amid ongoing geopolitical turmoil. The sample is highly representative of the central bank community, both geographically and in terms of gold holdings, indicating strong engagement with gold among central banks.
- https://www.gold.org/goldhub/research/central-bank-gold-reserves-survey-2026/perspectives-on-gold-reserves – The World Gold Council’s 2026 Central Bank Gold Reserves Survey indicates that 89% of central banks believe global gold reserves will increase over the next 12 months. Notably, 45% of respondents expect their own gold reserves to rise during this period. The majority anticipate no change, while 1% expect a decrease. Factors influencing this outlook include gold’s performance during crises, its role in portfolio diversification, and its function as an inflation hedge. Additionally, gold serves as a geopolitical risk hedge and is part of reserve diversification strategies.
- https://www.gold.org/goldhub/research/central-bank-gold-reserves-survey-2026/technical-and-operational-considerations-of-gold-reserves-management – The World Gold Council’s 2026 Central Bank Gold Reserves Survey reveals that 76% of central banks manage gold separately from other reserve assets, a slight increase from 75% in the previous year. When purchasing and holding physical gold, the preferred option is London Good Delivery bars. The Bank of England remains the most favoured gold storage location at 57%, though central banks are increasingly diversifying their storage locations. Domestic storage is the second most preferred option at 49%, followed by the Bank for International Settlements at 16%, and the Swiss National Bank at 6%, a decline from 12% in 2025.
- https://www.gold.org/goldhub/research/central-bank-gold-reserves-survey-2026/methodology – The World Gold Council’s 2026 Central Bank Gold Reserves Survey, conducted in collaboration with YouGov, involved 76 eligible responses from central banks worldwide, representing a 51% response rate. The survey was conducted between 5 February and 19 May 2026. The questionnaire was designed by the World Gold Council with consultation from YouGov and translated into Arabic, French, and Spanish to ensure accessibility. Responses were anonymised, and data was presented both in aggregate and segmented by advanced economies and emerging markets and developing economies (EMDEs), as defined by the IMF.
- https://www.gold.org/goldhub/research/central-bank-gold-reserves-survey-2026/strategic-considerations-in-gold-reserves-management – The World Gold Council’s 2026 Central Bank Gold Reserves Survey indicates that 92% of central banks consider ‘interest rate levels’ relevant to their reserve management decisions. This aligns with the previous year’s survey. Economic and geopolitical factors continue to significantly influence reserve management decisions. Gold’s role as a long-term store of value, its performance during crises, and its diversification properties remain key reasons for central banks to hold gold.
- https://www.gold.org/goldhub/research/central-bank-gold-reserves-survey-2026/conclusion – The World Gold Council’s 2026 Central Bank Gold Reserves Survey concludes that central banks increasingly view gold as an active and important strategic asset within their reserve portfolios. Optimism about gold’s future role as a reserve asset has grown, with 83% of respondents believing gold will account for a higher share of total reserves five years from now, up from 76% last year. Ongoing economic and geopolitical uncertainty continues to influence reserve managers, highlighting the importance of diversification and risk mitigation in strategic reserve management decisions.
Noah Fact Check Pro
The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.
Freshness check
Score:
10
Notes:
The article references the World Gold Council’s 2026 Central Bank Gold Reserves Survey, published on 16 June 2026. ([gold.org](https://www.gold.org/goldhub/research/central-bank-gold-reserves-survey-2026?utm_source=openai)) The ZeroHedge article was published on 17 June 2026, indicating timely reporting. No evidence of recycled or outdated content was found.
Quotes check
Score:
8
Notes:
The article includes direct quotes from the World Gold Council’s survey. These quotes are consistent with the original source. However, the ZeroHedge article paraphrases some findings, which may introduce slight variations. No significant discrepancies were noted.
Source reliability
Score:
6
Notes:
ZeroHedge is known for its unconventional perspectives and has faced criticism for sensationalism. While it provides timely reporting, its reliability is often questioned. The World Gold Council is a reputable source, enhancing the credibility of the information.
Plausibility check
Score:
9
Notes:
The claims align with the World Gold Council’s findings, indicating a consistent narrative. The data presented is plausible and consistent with known trends in central bank gold reserves. No inconsistencies were identified.
Overall assessment
Verdict (FAIL, OPEN, PASS): PASS
Confidence (LOW, MEDIUM, HIGH): MEDIUM
Summary:
The article provides timely reporting on the World Gold Council’s 2026 Central Bank Gold Reserves Survey. While the information is consistent with the original source, the reliance on a single source and the known reliability issues of ZeroHedge warrant a medium confidence level. Further independent verification is recommended to enhance credibility.