Global central banks acquired +39 tonnes of gold in August, marking their 5th consecutive monthly purchase – The Kobeissi Letter
This follows +23 tonnes in July and +52 tonnes in June.
China again led demand, adding +20 tonnes and bringing its year-to-date purchases to +80 tonnes.
China’s official gold reserves have now risen to a record 2,387 tonnes, or 9% of its total FX reserves.
Furthermore, Poland bought +8 tonnes, lifting its year-to-date purchases to +98 tonnes and total gold reserves to a record 648 tonnes.
So far in 2026, central banks have acquired +170 tonnes of gold.
Central banks continue to aggressively accumulate gold.
https://x.com/KobeissiLetter/status/2107916705603195373
Nice graph
Thanks Kewl2 – Sir Plunger to follow on our discussion earlier. This is why I think it’s better to be on the train here than waiting for a ‘below 4k’ opportunity. Certainly, if it goes below 4k, I’ll be cheering for you!