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Central banks added 321.2 metric tons of gold to reserves in the three months ending in September, exceeding the 312 tons bought by jewelry consumers worldwide over the same period. The shift marks central bank demand outpacing retail jewelry purchases, a reversal of the typical demand mix. Gold exposure via AAAU reflects the reserve-buying trend.
Central Banks Outpace Jewelry Buyers in Gold Demand, Three-Month Data Show
Central banks added 321.2 metric tons of gold to their reserves in the three months ending in September, according to data cited in a report from 247wallst.com. Over the same period, jewelry buyers worldwide purchased 312 metric tons.
The figures indicate that official-sector reserve buying exceeded retail jewelry demand during the quarter.
Demand Mix in Focus
The comparison places central bank purchases ahead of consumer jewelry demand, a shift in the typical composition of global gold demand highlighted in the report’s framing. The article describes the development as a notable change in the market.
The source data does not provide further detail on the drivers behind central bank purchases or on regional breakdowns of jewelry demand.
Gold Exposure
The report references AAAU, a gold-backed exchange-traded fund, as a vehicle reflecting the reserve-buying trend. The source material does not include additional detail on the fund’s structure or performance.
The article was published on November 5, 2026.