Central Banks Are Loading Up on Gold: Is Bitcoin Losing the Hard-Money Battle?

Central banks are still accumulating gold at one of the fastest rates seen in recent years, even as prices remain historically elevated on a broader scale. The trend continued beyond the third quarter of 2026, strengthening the case that sovereign institutions still overwhelmingly prefer the traditional safe-haven asset when diversifying their reserves. Still Buying Gold According to data shared by the analysts from the Kobeissi Letter, global central banks acquired 321 tonnes of gold during Q3 2026, the largest quarterly amount in almost two years and the fifth-largest on record. Purchases increased 8% from 296 tonnes in Q2 and surged from just 58 tonnes in Q1. For comparison, the five-year quarterly average stands at around 227 tonnes. Year-to-date demand reached 675 tonnes, 6% higher than the same period in 2025.

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