Kazakhstan, Turkey, Poland, and Singapore beat India and China, US remains the undisputed King, Germany ranks…

Over the past year, central banks have bought an average of 27 tonnes of gold each month. According to a survey conducted by the World Gold Council among 73 central banks, 95 percent of respondents said

New Delhi: Gold for August delivery is trading at ₹95,922 per 10 grams on MCX, down Rs 550. Despite the ongoing rally in gold prices, central banks continue to ramp up their gold purchases. According to the reports, the central banks bought 20 tonnes of gold in May— the highest in three months. This marks the 24th consecutive month of gold purchases by central banks across the globe.

Over the past year, central banks have bought an average of 27 tonnes of gold each month. According to a survey conducted by the World Gold Council among 73 central banks, 95 percent of respondents said they expect an increase in their gold reserves over the next year. This clearly indicates that central bank gold buying is likely to continue. Many banks are also turning to gold to reduce their reliance on the US dollar.

Here are some of the key details:

• Kazakhstan’s central bank topped the list for gold purchases in May.
• Kazakhstan was followed by Turkey, Poland, and Singapore.
• The Reserve Bank of India (RBI) has not bought any gold in the current financial year.
• There has been no change in RBI’s gold reserves since the end of March, remaining stagnant at 880 tonnes, according to the recent data
• The share of gold in the country’s net foreign assets rose to 12 percent in March 2025, up from 8.3 percent at the end of March 2024.
• With 8,133 tonnes of gold in its national treasury, the United States holds the world’s largest gold reserves
• Germany ranks second with 3,352 tonnes.
• Italy is in third place, with its central bank holding 2,452 tonnes of gold.
• France ranks fourth with 2,437 tonnes, followed by Russia, which holds 2,340 tonnes of gold.

China Ahead of India:

China ranks sixth on this list with a gold reserve of 1,948 tonnes. In recent years, China has rapidly increased its gold holdings. It is also the largest consumer of gold globally. Next on the list is the small European nation of Switzerland, which holds 1,040 tonnes of gold. Switzerland has a population of around 8.9 million—smaller than the Indian state of Uttarakhand. Yet, its gold reserves are larger than India’s.