Central banks likely to increase gold buying in next 12 months, WGC says

Global central banks expect to raise their gold purchases over the coming year, according to the World Gold Council's latest annual survey of reserve managers. The survey, which the WGC released Tuesday, showed that 29% of respondents plan to add to their gold holdings over the next 12 months, up from 24% in the previous year's poll. Another 40% said they expect to maintain current allocations.

The findings extend a pattern that has reshaped the gold market since 2022, when central banks bought more than 1,000 tonnes of the metal for the first time in decades. Continued official-sector demand has provided a floor under gold prices even as rate expectations shifted and the dollar strengthened. The WGC survey covers 70 central banks representing roughly a third of global foreign-exchange reserves.

For holders of the SPDR Gold Trust (GLD), the news reinforces a supportive demand backdrop. The ETF tracks the spot gold price and has gained this year alongside the metal. GLD's Alpha Score sits at 28 out of 100, labeled Weak, reflecting mixed technical and sentiment signals despite the fundamental tailwind from central bank buying. The stock page offers detailed positioning data.

The survey captures intentions, not binding commitments. Some central banks cited concerns about gold's liquidity and storage costs, and a smaller share than last year said they viewed gold as a strategic reserve asset. Still, the cumulative effect of even steady buying at current levels keeps the metal's supply-demand balance tight. Gold has traded near $2,340 an ounce in recent sessions, supported by the same official-sector appetite the WGC survey tracks.