Why central banks are hoarding gold like there's no tomorrow
Gold just shot past $3,800 an ounce this September—the biggest monthly jump since 2009.
The main reason? Central banks around the world are snapping up gold like never before.
Goldman Sachs thinks this rush could push prices to $4,300 by the end of 2026.
For context: banks are set to buy 900-1,000 tons of gold in 2025 alone, something we haven't seen since the 1970s.
Central banks and retail investors are both in on the action
Central banks are stacking gold to protect their reserves from inflation and global drama—and they're moving away from relying only on the US dollar.
Nearly half of central bankers say they're actively managing their gold stash, with many planning to boost it even more soon.
This trend is also catching on with retail investors in Asia who want a safer bet during market ups and downs.
Poland, China, and India are leading the charge
Poland, China, and India are some of the biggest buyers right now.
Even though buying slowed down early in 2025, demand bounced back mid-year thanks to hopes for US interest rate cuts and ongoing global uncertainty.
What's happening with silver?
Silver prices have climbed too—but central banks still love gold way more.
That's pushed the gap between gold and silver prices to historic highs.
As long as things stay unpredictable globally and rates remain low, expect gold demand to stick around.