WGC poll reveals global central banks expect to replenish their gold reserves within next five years

Global central banks expect their gold reserves to increase and their dollar holdings to decline over the next five years, according to a World Gold Council (WGC) survey.

The study covered 73 financial regulators from around the world. Over the next five years, 76% predict an increase in their yellow metal reserves. Last year, 69% of respondents gave such an answer.

Nearly three-quarters of study participants expect central banks' dollar reserves to shrink during the said period, up from 62% last year.

95% of respondents are confident that global financial regulators' gold holdings will expand within the next 12 months. In 2024, 81% said this would be the case. The WGC survey also revealed that the Bank of England remains the leader in bullion holdings.

59% of central banks cited trade and tariff tensions as factors influencing their reserve management decisions. Most of these responses (69%) came from emerging market countries.