A major change is taking place in global finance as central banks around the world significantly increase their focus on gold. A record number of institutions are planning to expand their bullion reserves in the coming year. The World Gold Council’s (WGC) 2026 Central Bank Gold Reserves Survey found that 89% of respondents expect global central bank gold holdings to rise over the next 12 months. Nearly half (45%) also said their own institution is likely to increase its gold reserves, while only 1% expect a decrease, with the rest anticipating no change.

Over the past four years, central banks have collectively added about 1,000 tonnes of gold annually—roughly double the average of the previous decade. The WGC attributes this sustained buying to ongoing geopolitical and economic instability affecting reserve managers worldwide. The survey, conducted between 5 February and 19 May, notes that many responses came after the outbreak of conflict in the Middle East, shaping how central bankers view gold amid global uncertainty. Gold is increasingly seen as a safe-haven asset, valued for its crisis performance, diversification benefits, and ability to hedge against inflation.

The report also highlights a broader shift in reserve strategies, with 74% of respondents expecting the US dollar’s share in global reserves to decline over the next five years, while gold’s importance is set to grow. Regarding funding for future purchases, about half of central banks plan to use domestic currency-based buying programs, while 38% intend to finance gold acquisitions by selling other reserve assets.

Storage practices are also evolving. The Bank of England remains the most popular vault location (57%), followed by domestic storage (49%) and the Bank for International Settlements (16%). Meanwhile, a growing number of central banks are diversifying storage, with some increasing domestic holdings and others spreading reserves across multiple international locations. The survey, based on responses from 76 central banks—the highest participation in nine years—underscores a clear global trend toward greater reliance on gold in reserve management.

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