Central Banks Bought 244 Tonnes of Gold in Q1, the Dollar's Reserve Share Just Hit 59%
Central bank gold demand totaled 244 tonnes in Q1 2026 per World Gold Council data. Goldman Sachs expects EM central banks to keep buying around 60 tonnes per month through year end. The dollar's share of allocated global FX reserves has dropped from 71 percent in 2000 to 59 percent in Q4 2025, the steepest proportional decline since Bretton Woods ended. The deficit was absorbed almost entirely by gold. Poland is leading 2026 accumulation with over 20 tonnes added, part of a plan to reach 700 tonnes. The freezing of Russian central bank assets in 2022 broke the assumption that dollar reserves are politically neutral. Gold sits outside that risk by design.
Central Banks Bought 244 Tonnes of Gold in Q1, the Dollar's Reserve Share Just Hit 59%
Central bank gold demand totaled 244 tonnes in Q1 2026 per World Gold Council data. Goldman Sachs expects EM central banks to keep buying around 60 tonnes per month through year end.
