Central banks are accelerating their shift toward gold as geopolitical and economic uncertainty continues to rise. A new survey shows a record share of central banks plan to increase their gold holdings, while a clear majority expect the U.S. dollar to lose ground in global reserve portfolios over the coming years.
Details:
• 45% of central banks plan to increase gold reserves over the next 12 months, up from 43% a year earlier.
• Central bank gold purchases have exceeded 1,000 tonnes annually for a third consecutive year.
• Purchases reached 244 tonnes in the first quarter of 2026, marking a 17% increase from the previous quarter.
• 74% of survey respondents expect the dollar’s share of global reserves to decline over the next five years.
• Gold continues to strengthen its appeal as a hedge against geopolitical risks and economic uncertainty.
What to watch?
Will this trend evolve into a broader reshaping of global reserve strategies? And can gold further expand its role at the expense of the dollar in the years ahead?
