Global central banks own about 17 percent of all the gold ever mined, with reserves topping 36,520.7 metric tons (MT) at the end of November 2025. They acquired the vast majority after becoming net buyers of the metal in 2010. Central banks purchase gold for a number of reasons: to mitigate risk, to hedge against inflation and to promote economic stability. Increased concerns over another global financial crisis have as expected led central banks once again to build up their gold reserves. In a mid-2025 survey, the World Gold Council (WGC) said that 95 percent of the central bankers it polled expect global gold reserves to increase over the next 12 months. The precious metal’s ‘performance during times of crisis’ was cited by 85 percent of respondents as highly or somewhat relevant to their decision, while 80 percent cited its long-term store of value. Central banks added 863.3 metric tons…
