Quarterly value of global central bank gold buying 2010-2024
Gold prices were relatively low during the end of 2022, making it easy for central banks to stock up gold reserves. Demand remained high in the first quarter of 2023, however. The United States, Germany, and Italy made up the top three of countries with the highest gold reserves in the world.
Central banks worldwide bought a record 458 tonnes of gold in the third quarter of 2022, as they looked for safe investment havens.