The World Gold Council's 2026 survey just dropped

The World Gold Council’s 2026 central bank survey is decisively bullish for gold: 45% of central banks now plan to increase their gold reserves over the next 12 months, up from 29% two years ago. In the same survey, 89% expect global central bank gold reserves to rise and only 1% expect them to fall, reinforcing the bid from official-sector demand. The data also extends the underlying trend already visible in recent years: central banks have bought more than 1,000 tonnes of gold annually for three consecutive years. That keeps sovereign demand firmly in the market as a structural support for physical gold, even if price action remains driven tactically by rates, the dollar, and risk sentiment. For traders, the key implication is that any pullback in gold is likely to continue attracting official-sector and long-term reserve diversification interest. Near term, the survey should help underpin sentiment around gold-backed assets and bullion demand, with the main risk to follow-through still coming from higher real yields or a firmer USD rather than a change in central bank buying behavior.