Poland's Central Bank Leads Global Gold Purchases Amid Rising Prices

Global Interest in Gold Purchases

Countries around the world are increasingly focused on acquiring gold, especially after a significant price surge over the past year. Gold reached an all-time high in January, leading to a temporary decline in purchases. However, as prices softened in February, central banks globally seized the opportunity to buy.

Central Banks Resume Gold Buying

According to a report from the World Gold Council, central banks resumed gold purchases in February 2026, acquiring a total of 27 tons, a notable increase from just 6 tons in January. This marks the 23rd consecutive month that central banks have been major buyers of gold, with Turkey and Russia selling some of their reserves during this period.

Poland's Significant Gold Acquisition

Poland played a crucial role in this buying spree, purchasing 20 tons of gold in February, its largest monthly acquisition since February 2025. This brings Poland's total gold reserves to 570 tons, which constitutes 31% of its total foreign reserves. The country aims to reach a target of 700 tons in gold reserves.

Reasons Behind Increased Purchases

Other countries, including Uzbekistan, China, Malaysia, and Cambodia, also joined the list of gold buyers in February. Turkey sold 8 tons, while Russia sold 6 tons from its reserves. Central banks are purchasing gold to strengthen their reserves, mitigate global financial risks, and diversify their holdings. Factors such as geopolitical tensions, inflation risks, and reliance on the dollar are driving nations to focus more on gold.

Comparison with Previous Year

In 2025, the average monthly gold purchases by central banks were around 26 tons. Although the pace slowed at the beginning of 2026, February saw a recovery. Experts suggest that amid geopolitical tensions and economic uncertainty, gold remains an attractive secure investment.

Impact on Gold Prices

The continuous buying by various central banks has led to rising gold prices. Following February, China continued its purchases into March, contributing to strong global demand for gold. This trend indicates that central banks view gold as a critical component of their strategy to navigate fluctuations in the global economy.