World Gold Council: Central Banks Net Bought 19 Tonnes of Gold in February 2026

The World Gold Council (WGC) released its February update on central bank gold activity, reporting that global central banks were net buyers of 19 metric tonnes of gold in February 2026. The figure was below the 2025 monthly average of 26 tonnes, but up sharply from January 2026's net purchase of 5 tonnes. The WGC said the February numbers point to a pickup in official-sector demand after a subdued January, reinforcing central banks' ongoing preference for gold as a reserve asset. The report also noted that several central banks have sustained steady net purchases, adding a combined 44 tonnes between November 2024 and February 2026. The Czech Republic logged its 36th straight month of net gold buying, while China extended its run to 16 consecutive months. Separately, Goldman Sachs said in a late-March note that gold's medium-term outlook remains supported by continued central bank demand and expectations for two Federal Reserve rate cuts this year, with prices potentially reaching $5,400 per ounce by year-end. UBS, also in late March, forecast a target of $5,900 per ounce by early 2027.