The World Gold Council said full-year central bank purchases are expected to decline even after a recent rebound, pointing to softer official-sector demand than previously thought.
Central banks bought significantly less gold than previously estimated in early 2025, according to the World Gold Council, which also said full-year purchases are expected to decline despite a recent rebound. The update suggests official-sector demand for bullion was softer than earlier calculations indicated, a notable signal for gold markets because central bank buying has been a major pillar of support for prices in recent years. A slower pace of reserve accumulation can indicate more cautious portfolio management by monetary authorities, even if buying has recently improved.