Story perspectives

Central Banks Shift Gold Home, BoE and Fed Storage Falls

6/18/2026

Summary

Central Banks Relocate

Central banks are shifting gold from New York and London vaults to domestic storage.
Bank of England storage fell to 57% from 64% in the 2026 World Gold Council survey.
New York Federal Reserve storage dropped to 14% from 17% in the same survey.
Banque de France transferred 129 metric tons from New York to domestic storage from July 2025 to January 2026.

Summary

Central Banks Stockpiling

Central banks have bought about 1,000 tonnes of gold annually for four years, double the prior decade’s average.
The World Gold Council survey shows nine of ten central banks expect reserves to rise, with 45 % foreseeing growth in their own holdings and only 1 % expecting a decline.
Ten percent diversified overseas storage and nine percent increased domestic storage in the past year, up from two and five percent.

Summary

Investors Buy Gold

Gold prices in India rose 40% over a year as banks bought gold and the rupee weakened.
Seventy-four percent expect global reserves to hold a moderate or lower U.S. dollar share within five years.
Survey participants cite crisis performance, inflation hedging and geopolitical risk mitigation as reasons for buying gold.
The survey, run 5 February–19 May 2026, found safety, liquidity and return as top objectives, saying euro and renminbi shares will stay unchanged.

Summary

Central Banks Trim**

The 2026 Central Bank Gold Reserves Survey collected 76 responses between Feb 5 and May 19, 2026.
Metals Focus projects central-bank gold demand to fall 15 % year-on-year in 2026.
Despite the projected drop, demand is expected to remain above pre-2022 levels.
The Monetary Authority of Singapore will launch a dedicated gold-vaulting service for central banks by October 2026.
Fan Shaokai said the repatriation of gold will occur incrementally, not as a sudden pivot, indicating a persistent trend.

History

Historical Context

In 1934 President Franklin D. Roosevelt signed the Gold Reserve Act, which seized Federal Reserve gold, voided gold clauses and revalued the dollar from $20.67 to $35 per ounce, consolidating U.S. reserves. Today the Bank of England, Banque de France and Singapore’s Monetary Authority are similarly repatriating gold, echoing that historic centralization.

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Central Banks Relocate

Central banks are shifting gold from New York and London vaults to domestic storage.
Bank of England storage fell to 57% from 64% in the 2026 World Gold Council survey.
New York Federal Reserve storage dropped to 14% from 17% in the same survey.
Banque de France transferred 129 metric tons from New York to domestic storage from July 2025 to January 2026.

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