[COMMODITIES] ⏱ 3 MIN READ • 2026-10-17 00:00:21 UTC JSON API [RAW]

Central Banks Add 1,200 Tonnes of Gold in 2025, De-Dollarization Accelerates

Global central banks purchased a record 1,200 tonnes of gold in 2025, driven by de-dollarization and reserve diversification. Gold spot hit $2,950/oz as the USD share of global reserves fell to 58%.

Central Banks Add 1,200 Tonnes of Gold in 2025, De-Dollarization Accelerates
PHOTO: FINPULSE 360 MARKETS BUREAU
⚡ EXECUTIVE 30-SECOND INVESTOR MATRIX
🎯 THE SIGNAL

Gold remains a strategic hedge against fiat debasement and geopolitical fragmentation, with upside targeting $3,200/oz.

📈 BULLISH VECTORS

Gold miners (GDX) and physical gold ETFs (GLD) stand to benefit from sustained central bank demand and retail inflows.

📉 BEARISH VECTORS

A sharp rise in US real yields above 2.5% could trigger a 10-15% correction in gold prices.

⚠️ PRIMARY RISK TRIGGER: Fed rate hikes or a liquidity crisis forcing central banks to sell gold reserves.
📄 Read Full Dispatch Intelligence Report (expand)

Central Bank Demand Hits Record High Central banks added a net 1,200 tonnes of gold to reserves in 2025, topping the previous record of 1,136 tonnes in 2022. The buying was led by China (300t), Russia (200t), India (150t), and Turkey (100t). This marks the 15th consecutive year of net purchases, with emerging markets accounting for 80% of demand.

De-Dollarization Metrics - USD share of global FX reserves: 58.0%, down from 65% in 2015 and 71% in 2000. - Gold as % of total reserves: 15.2%, up from 10% in 2020. - Bilateral trade in non-USD currencies: 25% of global trade, up from 15% in 2020. - BRICS+ combined GDP (PPP): 35% of global, vs. G7's 30%.

Price Action and Technicals Spot gold reached an all-time high of $2,950/oz in Q1 2025, up 18% YTD. The gold-to-S&P 500 ratio stands at 0.52, still below the 2011 peak of 0.75. Open interest in COMEX gold futures hit 650,000 contracts, while gold ETF holdings rose to 3,500 tonnes (up 10% YTD).

Implications for Markets A sustained de-dollarization trend supports gold's long-term bull case. However, a hawkish Fed or a spike in real yields could trigger short-term volatility. Investors should watch the US 10-year real yield, currently at 1.8%, and the DXY, which has weakened 5% YTD to 98.5.