NEW YORK: China, Poland, Türkiye and India recorded the largest net increases in official gold reserves from 2020 through 2025, according to World Gold Council figures compiled from official reporting. The multi year changes, measured in metric tonnes, place China first with a net addition of 357.1 tonnes, followed by Poland with 314.6 tonnes, Türkiye with 251.8 tonnes and India with 245.3 tonnes, based on reported holdings through end December 2025.
The World Gold Council said its central bank reserve dataset was updated in February 2026 and reflects data available at that time. The council said the figures are drawn from the International Monetary Fund’s International Financial Statistics and other sources where applicable, with IMF data typically two months in arrears and some countries reporting later. The council describes gold as an important component of central bank reserves and estimates official institutions hold about a fifth of all gold mined.
China and Poland accounted for the largest net increases over the 2020 to 2025 period, while the remainder of the top ten buyers included a mix of emerging and advanced economies. Brazil ranked fifth with a net increase of 105.1 tonnes, followed by Azerbaijan with 83.6 tonnes. Japan added 80.8 tonnes and Thailand added 80.6 tonnes, while Hungary increased holdings by 78.5 tonnes and Singapore by 77.3 tonnes over the same period.
Measured together, the top ten net buyers added about 1,674.7 tonnes to official reserves over the six year span, highlighting the scale of accumulation among the most active purchasers. The World Gold Council dataset tracks reported month end purchases and sales and also presents gold as a share of international reserves. It notes that where it is aware of movements not reported to the IMF or data errors, adjustments can be made, and revisions may occur as reporting is updated.
Net buyers since 2020
By contrast, reported net reductions were concentrated among a smaller set of holders. The Philippines recorded the largest net decline, reducing official gold reserves by 65.2 tonnes from 2020 through 2025, while Kazakhstan reduced holdings by 52.4 tonnes. Sri Lanka cut reserves by 19.1 tonnes, Germany by 16.3 tonnes and Mongolia by 15.9 tonnes, based on the same World Gold Council compiled reporting window.
Additional net reductions over the period included Tajikistan at 11.9 tonnes and the eurozone at 10.8 tonnes, with Colombia lowering holdings by 9.2 tonnes. Curaçao and Sint Maarten reduced reserves by 3.9 tonnes, while the Solomon Islands recorded a net decline of 0.6 tonnes. In total, the ten largest net sellers reduced reported holdings by about 205.3 tonnes from 2020 to 2025, far less than the net additions recorded by the top buyers.
Central bank demand in 2025
The World Gold Council’s full year 2025 reporting on central bank activity said net purchases totalled 863.3 tonnes in 2025, down from 1,092.4 tonnes in 2024. It said net purchases in the fourth quarter of 2025 rose to 230 tonnes. The council reported that the National Bank of Poland was the largest buyer for a second consecutive year, adding 102 tonnes in 2025, and said the People’s Bank of China reported net purchases of 27 tonnes in 2025.
The council’s reserve dataset notes that figures represent reported official sector holdings and can be affected by reporting lags and methodological adjustments. It said holdings are as of December 2025 for most countries, with September 2025 or earlier for late reporters, reflecting the IMF data schedule. The 2020 to 2025 net change rankings are based on the difference in reported official gold holdings over that period, capturing cumulative additions and reductions rather than any single year’s activity. – By Content Syndication Services.