12:31 - 29.04.2026

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April 29, Fineko/abc.az. Global central banks accelerated the replenishment of gold reserves: in the 1st quarter of 2026, net purchases reached 244 tons against 208 tons a quarter earlier (World Gold Council estimate).

ABC.AZ reports that Poland, Uzbekistan and China became the main buyers, while some operations remained undeclared.

The impetus was a 12% drop in gold prices in March, the largest since 2008, caused by rising energy prices amid the conflict between the U.S. and Iran. This reinforced expectations of maintaining high rates, which usually puts pressure on gold.

The WGC estimates that Turkey, Russia, Azerbaijan, as well as a range of small central banks and sovereign wealth funds collectively sold about 115 tons of gold in the first quarter. This sale initially caused fears in the market that government institutions were losing their appetite for precious metals.