The World Gold Council reported on January 6 that global central banks maintained high demand for gold in November 2025, with purchases totaling 45 tons. This figure represents a moderate decrease from October but remains robust against the backdrop of the year’s overall market dynamics.
Poland and Brazil emerged as the most active buyers during the month, each adding 12 and 11 tons to their reserves respectively. Uzbekistan, Kazakhstan, Kyrgyzstan, and the Czech Republic also increased their gold holdings, while banks in China and Indonesia each purchased one ton.
The National Bank of Poland has been the largest official buyer since the beginning of 2025, accumulating approximately 95 tons.
Earlier this year, on December 27, 2025, it was reported that 2025 had become one of the most successful years for the gold market. Metal prices updated historical highs more than 50 times and rose by over 60%. The price exceeded $4,000 per troy ounce and reached a record high in rubles at more than 10,000 rubles per gram.
Experts attributed this significant price increase to steady demand from central banks and heightened interest in gold as a protective asset during periods of economic volatility.
