Central Banks Extend Gold Buying Streak To 23 Months As Reserves Grow By 25 Tonnes YTD: GLD, IAU, GDX And Other ETFs In Focus

Global central banks added 19 tonnes of gold to their reserves in February, marking an unbroken 23-month streak of net purchases as nations aggressively diversify their global holdings.

Poland Leads The Charge

The latest February data pushes year-to-date net gold purchases to a robust 25 tonnes, underscoring what analysts view as a monumental shift in reserve management.

The National Bank of Poland dominated the month’s activity, acquiring a staggering 20 tonnes. This purchase brings Poland’s total gold reserves to 570 tonnes, comprising roughly 31% of its total foreign exchange holdings.

Other notable buyers included the Central Bank of Uzbekistan, which added 8 tonnes, and China, which purchased 1 tonne. While smaller in volume, China’s acquisition marks its 16th consecutive monthly purchase, pushing its massive stockpile to 2,308 tonnes.

BREAKING: Global central banks bought +19 tonnes of gold in February, posting their 23rd consecutive monthly purchase.

This follows +6 tonnes in January, with year-to-date purchases now at +25 tonnes.

The National Bank of Poland led with +20 tonnes, bringing gold reserves to… pic.twitter.com/BkZTfo5hpD

— The Kobeissi Letter (@KobeissiLetter) April 9, 2026

Strategic Shifts And War Liquidations

While the overarching trend remains heavily skewed toward accumulation, the volatile geopolitical landscape has forced significant sell-offs elsewhere. Turkey and Russia recorded the most notable declines in February, shedding 8 tonnes and 6 tonnes, respectively.

Turkey’s liquidations accelerated drastically into March, with the nation selling an estimated 120 tonnes to fund foreign exchange operations amid the ongoing Iran war.

Despite these localized, conflict-driven sell-offs, overarching central bank gold demand remains exceptionally strong worldwide.

A Historic Global Rebalancing

This sustained 23-month accumulation streak builds upon a major milestone reached in 2025, when foreign central banks officially held more of their international reserves in gold than in U.S. Treasuries for the first time since 1996. Driven by geopolitical uncertainty and a desire to reduce reliance on the U.S. dollar, this crossover signals a profound macroeconomic pivot.

Otavio Costa, the founder & CEO of Azuria Capital LLC, highlighted the gravity of this ongoing transition away from U.S. debt.

“This is likely the beginning of one of the most significant global rebalancings we've experienced in recent history, in my view,” Costa stated in an older post from 2025, comparing the current climate to the 1970s and urging observers to “let that sink in” as the buying streak continues.

Gold Gains 53% Over The Year

The Gold Spot US Dollar has advanced 53.00% over the last year and 18.60% in the last six months.

At the last check, it was trading 0.14% lower at $4,712.73, and its previous record stood at $5,595.46 per ounce. Here are a few gold and gold miners-linked ETFs for investors to consider.

Gold And Gold Mining ETFs	YTD Performance	6-Month Performance	One Year Performance
SPDR Gold Trust (NYSE:GLD)	9.64%	16.72%	57.90%
iShares Gold Trust (NYSE:IAU)	9.70%	16.82%	58.12%
SPDR Gold MiniShares Trust (NYSE:GLDM)	9.00%	16.91%	58.40%
abrdn Physical Gold Shares ETF (NYSE:SGOL)	8.94%	16.85%	58.20%
iShares Gold Trust Micro (NYSE:IAUM)	8.94%	16.91%	58.49%
VanEck Gold Miners ETF (NYSE:GDX)	13.06%	24.04%	136.58%
VanEck Junior Gold Miners ETF (NYSE:GDXJ)	11.84%	21.41%	151.98%

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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