Central banks have continued to buy gold regularly for the last 16 years. While annual purchases were over 1,000 tons in 2022, 2023 and 2024, the total purchase reached 863 tons in 2025. This figure is well above the annual average of 473 tons between 2010 and 2021 and indicates that the increase in purchasing appetite continues. It is seen that this trend will continue to grow stronger in 2026.
The place of gold in the global reserve strategy
The basis for central banks’ rapid increase in gold stocks is various geopolitical and economic risks, especially the reserve crisis in 2022. That year, the G7, the European Union and Australia froze approximately $300 billion in reserves belonging to the Russian Central Bank, crystallizing the need for diversification in international portfolios. With this incident, the fact that foreign currency reserves held in Western depository institutions could be blocked by political decision became an important risk factor for all central banks.
Physical gold, on the other hand, stands out as a store of value that is independent of foreign institutions and free from counterparty risk when stored in its own country. According to the World Gold Council’s 2025 survey, the majority of reserve managers expect gold reserves to increase next year. While 95 percent of those surveyed predict that gold assets will rise on a global scale, none expect a decline. Additionally, 76 percent of executives are confident that gold’s share of reserves will rise further within five years.
Record demand and price increase
In 2025, total gold demand exceeded 5,000 tons for the first time in history, and its value exceeded 555 billion dollars. That same year, the average gold price was at an all-time high of $3,431 per ounce, and 53 new records were set throughout the year. In January 2026, the price climbed to over $5,000 per ounce.
Among the countries that purchase the most gold, the Central Bank of Poland has maintained its leadership for two years, while Kazakhstan, Brazil, Türkiye, China and the Czech Republic are also at the top of the list. In particular, the Central Bank of the Republic of Türkiye made net purchases for 28 consecutive months. The Central Bank of China, on the other hand, reached the official gold reserve of 2,306 tons with 17 months of uninterrupted purchasing. Moreover, the World Gold Council estimates that total purchases by central banks in 2025 could be 57 percent higher than official figures; This means that actual demand is well beyond what was announced.
“Physical gold has a feature that no other asset has: Gold held domestically is not tied to foreign institutions, cannot be subject to political sanctions and is not exposed to counterparty risk. In the 2025 survey, the most important criteria in central banks’ gold preferences stood out as performance during crisis periods, diversification, protection against inflation, value storage and absence of counterparty risk.”
Tokenized gold and new investment opportunities
Digital, blockchain-based solutions are rapidly becoming widespread to overcome the stresses experienced in physical gold supply and global distribution. Tokenized gold, that is, digital gold that can be bought and sold via blockchain, backed by full reserves and regularly audited, also provides individual users within the DeFi ecosystem with access to this strategic asset, which is only open to institutional investors in traditional markets.
New Zealand-based digital asset issuer Techemynt’s GoldNZ product stands out in this space. While GoldNZ offers investors a legal infrastructure with low counterparty risk and subject to the common law system of an OECD member country; Each token of the product represents one ounce of gold, held in Commonwealth Vault facilities in New Zealand and independently audited. Tokens; It can be used seamlessly on Ethereum, Polygon and Base platforms.
The tokenized gold market grew by 360 percent in 2025. While the World Gold Council and Boston Consulting Group are accelerating infrastructure development in this area, products such as GoldNZ combine the advantages of traditional gold with the flexibility of the crypto world. Thus, investors can transact transparently via blockchain without owning physical gold or dealing with storage and transportation.
Numerous recent reports indicate that tokenized real-world assets could reach a market size of $18.9 trillion by 2033. Some companies, such as McKinsey, are more cautious and predict a $2 trillion tokenization market by 2030. All predictions indicate that the current market will double many times.
Techemynt also offers silver assets through the NZDS stablecoin and SilverNZ, which are pegged to the New Zealand Dollar. Thus, investors can quickly switch between gold, silver and stablecoins within the same ecosystem. The company is registered as a Financial Services Provider in the country and undergoes stringent regulatory controls.
