Central banks bought more than 23 tonnes of gold in July, the fourth straight month of accumulation, with the People's Bank of China and Poland driving most of the demand. The purchases lift the year-to-date total to 130 tonnes, even as prediction markets assign only a slim chance to gold reaching $15,000 by year-end.
Central banks added more than 23 tonnes of gold in July, extending a buying streak that has now run for four consecutive months. China's central bank led the demand.
The People's Bank of China bought 20 tonnes in July, taking its total acquisitions for the year to 60 tonnes. Poland added 8 tonnes, raising its 2026 purchases to 90 tonnes.
Together, the buying pushes the year-to-date total to 130 tonnes. That is slightly below the 160 tonnes purchased over the same period last year, but the pace still points to sustained official demand for the metal.
Despite the steady accumulation, traders are not betting on a dramatic price surge. Polymarket prices a 1.5% chance that gold reaches $15,000 by the end of December 2026, though the ongoing purchases may still provide supportive indications for higher gold prices.
Analysts are watching potential U.S. Federal Reserve rate cuts and inflation data for signals on gold's trajectory. Geopolitical tensions, including developments around Russia-Ukraine and Taiwan, could also affect the metal's safe-haven appeal in the months ahead.
Source: Crypto Briefing
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