According to ING, citing World Gold Council data, central banks returned to net buying of gold in April after net sales in March, with total purchases amounting to approximately 17 tonnes [1]. Poland was the largest buyer, adding 14 tonnes in April and bringing its year-to-date gold purchases to 45 tonnes [1]. The People’s Bank of China continued its accumulation streak for the eighteenth consecutive month, purchasing 8 tonnes in April, which is its largest monthly increase since December 2024 [1]. The Czech Republic also maintained its accumulation strategy, buying 3 tonnes in April and reaching a total of 8 tonnes for the year [1]. In contrast, Russia remained a net seller, reducing its gold holdings by 6 tonnes in April, marking the fourth consecutive month of net sales and a total divestment of 22 tonnes year to date [1].
The resumption of net buying by central banks is seen as a positive signal for gold demand, especially after a month of net sales in March [1]. The strong purchases by Poland and continued accumulation by China and the Czech Republic highlight ongoing official sector interest in gold as a reserve asset [1]. However, Russia’s continued divestment stands out as a notable exception among major central banks [1].
No explicit market reactions or analyst opinions regarding the price impact or future outlook for gold were provided in the source [1].
CONCLUSION
Central banks resumed net gold purchases in April, led by Poland and China, signaling renewed official sector demand. Russia’s ongoing divestment contrasts with the accumulation strategies of other central banks. The overall market takeaway is a moderately positive sentiment for gold, driven by increased central bank buying.