Uzbekistan Among Top Three Gold Buyers in Second Quarter
Uzbekistan ranked third among the world's largest net gold buyers in the second quarter of 2026 after the central bank increased its reserves by 16 tonnes.
Uzbekistan's central bank emerged as one of the top three global purchasers of gold in the second quarter of 2026, augmenting its gold reserves by 16 tonnes, as reported by the World Gold Council.
During this period, only the central banks of Poland and China acquired larger quantities of gold. Poland expanded its reserves by 51 tonnes, and China added 33 tonnes. Kazakhstan followed Uzbekistan with net acquisitions of 15 tonnes, while both Jordan and the Czech Republic each boosted their gold reserves by 6 tonnes.
This ranking is based on net purchases, which represent the disparity between the amount of gold bought and sold within the reporting timeframe.
Overall, central banks and other official entities collectively procured 289 tonnes of gold in the second quarter, marking a record for any second quarter and a 62% increase compared to the same period last year, according to the World Gold Council.
Conversely, net purchases for the first half of the year amounted to 345 tonnes, the lowest level recorded since 2022. This outcome was influenced by substantial gold sales from several nations in the first quarter. Russia remained the primary seller in the second quarter, divesting 22 tonnes from its gold reserves.
The World Gold Council stated that central banks continue to regard gold as a crucial reserve asset, instrumental in diversifying international reserves and mitigating risks amidst economic and geopolitical instability.
A survey conducted by the organization revealed that 89% of central banks anticipate a continued rise in global gold reserves over the coming year, with 45% of respondents indicating intentions to increase their own gold holdings.