The Central Bank of Uzbekistan purchased 8 tons of gold in August 2026. Since the beginning of the current year, the volume of purchases by the Central Bank of Uzbekistan has approached the mark of 50 tons.
This data was presented in a review prepared by the World Gold Council (WGC). According to the council's report, gold accounts for 90% of Uzbekistan's total reserves, and the country's total gold reserves reach approximately 439 tons.
Overall, central banks worldwide increased their gold reserves by a net of 39 tons in August, with total purchases since the beginning of the year amounting to 170 tons. The WGC noted that China, Uzbekistan, and Poland were the most active gold buyers in August.
According to the People's Bank of China, which purchased gold for the twenty-second consecutive month, 20 tons were added to its reserves in August. Since the beginning of the year, China has increased its reserves by 80 tons, only surpassed by Poland. China's official gold reserves amount to about 2,387 tons, corresponding to 9% of its total reserves.
The National Bank of Poland bought 8 tons in August. Over the year, it acquired 98 tons and continues to lead in purchase volumes, although the WGC indicated that China is actively catching up. Poland's total gold reserve reached 648 tons, against a target of 700 tons.
The National Bank of Kazakhstan purchased 7 tons of gold in August and nearly 36 tons since the beginning of the year. Gold constitutes 79% of Kazakhstan's reserves, or about 377 tons.
The Czech National Bank has been buying gold for 42 consecutive months. In August, it acquired 2 tons, bringing the total purchases since the beginning of the year to 14 tons. Its gold reserves reached 86 tons, accounting for 7% of total reserves.
The Central Bank of Turkey purchased 3 tons in August after three months of net outflow. Since the beginning of the year, Turkey registered a net gold outflow of 82 tons, most of which was recorded in the first quarter of 2026. Bolivia and Ghana also purchased about 1 ton each in August.
The Central Bank of Russia continued to sell gold in August, disposing of another 6 tons. Since the beginning of the year, Russia has sold 56 tons, and its gold reserves stand at 2,271 tons. The Central Bank of Jordan sold 3 tons in August, but Jordan's net purchases since the beginning of the year amounted to 2 tons, bringing its reserves to 75 tons, or approximately 37% of reserves.
According to the WGC, the composition of buyers is as important as the total volume of gold purchased in August. Demand was again driven by familiar market participants who are implementing long-term accumulation programs. In the council's opinion, this indicates that central bank actions reflect long-term reserve management goals, while month-to-month fluctuations are likely related to implementation models, market conditions, and individual countries' liquidity needs.
An analysis of purchases from 2016 to 2025 shows moderate seasonality: central banks generally bought the most gold in June, as well as in September and October. Nevertheless, differences between individual years remain significant. The WGC also noted that an increase in economic or geopolitical uncertainty may play a role, although further analysis is required to identify stable factors.
The council also pointed out that central banks have become more actively involved in managing their gold assets. On September 2, De Nederlandsche Bank announced the transfer of 86 tons of gold from New York and Ottawa to London to increase the liquidity and tradability of its reserves. The Banque de France conducted a similar operation in 2025.