Per Woofun AI, a joint survey by the World Gold Council and YouGov indicates that 45% of 74 surveyed central banks intend to expand gold reserves over the next 12 months, marking the highest allocation intent since 2018. Only one institution signaled a reduction in holdings, underscoring persistent long-term institutional demand despite recent price volatility.

Emerging markets remain the primary drivers, with 53% planning increases compared to just 18% in advanced economies. Shaokai Fan noted that the current correction offers entry opportunities after many banks adopted a wait-and-see approach in 2025 due to elevated prices. Structurally, half of these banks prefer domestic mining purchases to conserve foreign exchange, while 38% rebalance by selling other assets, signaling a shift toward systemic asset reallocation.