Central banks net bought 123 tons in the first half of 2025

Demand for gold from countries remained stable in June, ending the first half of the year with a positive performance, according to the latest gold statistics report from the World Gold Council (WGC).

Mr. Krishan Gopaul - senior EMEA analyst at WGC said: "Central banks reported net buying 22 tons of gold in June through the IMF and other public data sources. Based on available data, demand has increased slightly monthly for the third consecutive month.

According to Mr. Gopaul, central banks have net bought a total of 123 tons of gold in the first half of 2025, down slightly compared to the same period in 2024.

The Central Bank of Uzbekistan was the biggest buyer in the month, ending a four-month streak of net selling.

The National Bank of Kazakhstan is also a significant buyer, while other countries have more modest purchases.

Uzbekistan bought 9 tonnes of gold in June, Kazakhstan bought 7 tonnes. Other notable gold buyers include the Czech Republic, China and Türkiye each buying 2 tonnes, while Myanmar, Qatar, the Philippines and the Kyrgyz Republic added 1 ton he said.

On the other hand, the Singapore Monetary Authority (MAS) was the biggest seller of the month, selling 6 tons of gold.

In the first half of the year, the National Bank of Poland was the largest net buyer with 67 tons, followed by Azerbaijan with 35 tons and Kazakhstan with 22 tons.

The three countries selling the most gold in the first half of 2025 are Uzbekistan, Singapore and the Russian Federation.