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Why Central Banks Are Buying Gold at Record Rates
January 3, 20265 min read

Why Central Banks Are Buying Gold at Record Rates

Central banks purchased over 1,000 tonnes of gold in 2023. Here is what they know that you should too.

The Gold Rush You Are Not Hearing About

In 2023, central banks around the world purchased over 1,000 tonnes of gold — the second-highest annual total on record. This trend has continued into 2024 and 2025.

Who Is Buying?

  • China: Adding to reserves monthly, often unreported
  • Russia: Diversifying away from dollar assets
  • India: Building strategic reserves
  • Turkey: Aggressive accumulation
  • Poland, Singapore, Czech Republic: Joining the trend

What Do They Know?

Central banks do not buy gold for speculation. They buy it for:

  1. Protection against currency devaluation
  2. Diversification from dollar-denominated assets
  3. Preparation for potential monetary system changes

The Signal

When the institutions that create money are buying gold, it sends a clear message about their confidence in paper currencies.

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