Kazakhstan has emerged as one of the world’s five biggest central bank gold buyers in the second quarter of 2026, adding 15 tons to its reserves, according to the World Gold Council.

Poland led global gold purchases during the period, increasing its reserves by 51 tons. China followed with 33 tons, while Uzbekistan bought 16 tons and Kazakhstan added 15 tons. Jordan and the Czech Republic each purchased six tons, Kazinform reports.

Central banks worldwide bought around 289 tons of gold in Q2 2026, marking a sharp 62% increase from approximately 178 tons during the same period in 2025.

The World Gold Council linked the stronger demand to rising geopolitical uncertainty, lower gold prices during the quarter and efforts by countries to diversify their foreign exchange reserves.

The appetite for gold among central banks is expected to remain strong. According to a World Gold Council survey, 89% of central bank representatives expect global gold reserves to increase over the next year, while 45% said they plan to expand their own holdings.

Gold prices have also remained closely watched. On July 3, gold futures climbed above $4,200 per ounce, reaching their highest level since June 22.