By Giulia Petroni
Central banks are increasingly shifting where they store their gold--a move that reflects growing geopolitical concerns and a desire to ensure greater control and access to reserves.
A survey from the World Gold Council, an industry body representing gold miners, showed fewer central banks now store bullion in London and New York than a year earlier, two hubs that house the world's most liquid bullion markets.
"This year's survey reveals an emergent trend of central banks increasingly looking to diversify gold vaulting locations," the WGC said Tuesday.
The survey found 57% of respondents store gold at the Bank of England, down from 64% last year, while 14% hold bullion at the New York Federal Reserve, down from 17%. Despite the decline in share, the BoE remains the world's most popular vaulting location.
The shift is part of a broader change in strategy. A total of 19% of central banks said they have increased domestic storage or diversified overseas vaulting locations over the past 12 months, compared to 7% in last year's survey. Looking at the year ahead, 7% said they plan to expand domestic storage, while 9% expect to further diversify storage abroad.
The trend comes as central banks step up gold buying. Annual purchases have risen to an average of 1,000 metric tons over the past four years--from about 500 tons in the previous decade--as heightened geopolitical and economic uncertainty clouds the outlook for reserve managers, the WGC said.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
June 16, 2026 05:09 ET (09:09 GMT)
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