WGC Central Bank Gold Reserves Survey 2026: RBI Gold Reserves and Key Findings

Subject: GS 3: Economy

Context: 

The World Gold Council (WGC) released its 2026 Central Bank Gold Reserves (CBGR) Survey.

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Key Findings of the Central Bank Gold Reserves Survey 2026

• Rising Gold Reserve Expectations: 89% of surveyed central banks expect global gold reserves to increase over the next 12 months.
  • 45% of surveyed central banks expect their own gold holdings to rise.
• Accelerated Gold Purchases: Central banks have purchased about 1,000 tonnes annually over the last four years, compared to an average of 500 tonnes in the previous decade.
• Shift Away from the U.S. Dollar: 74% expect the U.S. dollar’s share of global reserves to decline over the next five years, while gold’s share is expected to rise.
• Reasons for Increasing Gold Holdings
  • Safe-haven asset during crises.
  • Portfolio diversification.
  • Inflation hedge.
  • Protection against geopolitical risks.

India’s Position: 

• Expansion of RBI’s Gold Reserves: RBI’s gold reserves increased from 822.1 tonnes (FY24) to 879.58 tonnes (FY25) and 880.52 tonnes (FY26).
• Repatriation of Gold: The RBI repatriated over 100 tonnes of gold from overseas vaults to domestic storage in FY25.
• Impact on Domestic Gold Prices: Rising gold purchases by central banks, coupled with rupee depreciation, have contributed to nearly a 40% increase in gold prices in India over the past year.

Storage Trends: 

• Major Gold Storage Locations:

• Bank of England: 57%
• Domestic storage: 49%
• Bank for International Settlements (BIS): 16%

• Diversification of Vaulting Strategy: Central banks are increasingly diversifying the locations where they store gold reserves.

About World Gold Council (WGC): 

• It is a non-profit association of the world’s leading gold producers, established in 1987.
  • Recognised as the global authority on gold, providing comprehensive analysis of the gold industry.
• Headquarters: London, United Kingdom.
• Key Publications: Publishes the Central Bank Gold Reserves (CBGR) Survey and maintains data on global gold demand and reserves.

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