The XAU/USD index is hovering at the $4,300 level on Wednesday and is moving sideways in the charts. From retail traders to institutional funds and central banks, everyone is after the glittery metal for investments. Several countries in the Global South, Asia, Africa, and Europe have been relentlessly buying the commodity this year. It is among the top-performing assets in the last five years, as prices have spiked nearly 150%
Also Read: 2 Biggest Enemies of the US Dollar in 2026
Top Buyers of Gold in 2026
A total of seven countries have been steadily accumulating gold in 2026. Their central banks have been purchasing billions worth of the metal and diversifying their reserves. The US dollar is facing tough competition with gold, as central bank managers are reducing dependency on the currency. The ballooning $40 trillion National debt is also among the reasons why the US dollar is frowned upon.
Below is the list of countries that have purchased the highest amount of gold in 2026:
- Poland 82 tonnes $11.72 billion
- Uzbekistan 41 tonnes $5.86 billion
- China 40 tonnes $5.72 billion
- Kazakhstan 27 tonnes $3.86 billion
- Czech Republic 11 tonnes $1.57 billion
- Singapore 10 tonnes $1.43 billion
- Chile 8 tonnes $1.14 billion
In total, the central banks of these seven countries have purchased 219 tonnes of gold. The total worth of the accumulation is a staggering $31.3 billion. Most of them are already in profit after the purchase, and are likely to continue with the buying spree. The overall market has been responding positively to the commodity, with analysts predicting it could go much higher by the end of the year.
John LaForge, Chief Alternative Strategist at Ned Davis Research, has also predicted that gold prices could go above $10,000. He stressed that the uncontrolled US National debt at $40 trillion will lead to the metal ballooning in value. This is among the boldest price predictions made for the commodity this year. The overall consensus of analysts has remained bullish on the glittery metal.