In April, central banks around the world bought around 17 tons of gold. This shows that gold is still very important for countries.

Even though some gold was sold earlier this year, buying activity is still strong overall. Countries are slowly increasing their gold reserves again.

Mixed Moves in March

In March, some countries like Turkey and Russia sold around 30 tons of gold. But at the same time, other countries started buying. Poland is a big example. It recently bought 14 tons of gold and has already bought 45 tons this year. This shows that different countries are taking different steps, but the overall interest in gold is still strong.

Poland’s Big Jump

A few years ago, Poland did not have much gold. But in the last four to five years, it has increased its gold holdings very fast. Now it is close to 600 tons, which is not very far from countries like India. This sudden growth clearly shows a strong shift toward holding more gold.

China Keeps Buying

China has also added more gold. It recently bought 8 tons, taking its total to 2322 tons. For the last 18 months, China has been buying gold regularly without stopping. This steady buying shows long-term confidence in gold as a safe asset.

Gold Buying Trend Spreads

Whenever gold prices fall, central banks in Asia quickly buy more. Now even European countries are joining this trend. This makes it clear that the demand for gold is spreading across the world. Because of this, it looks very difficult for this trend to change anytime soon.

Gold Rally May Return

There have been some small selling phases, but those are mostly due to pressure related to US treasury holdings. Still, central banks now prefer to keep more gold in their reserves. Because of this, it does not look like the gold rally is over. There is a strong chance that gold prices may start rising again in the future.