Czech Central Bank Continues Aggressive Gold Buying Spree, Reaches Record Highs

The Czech National Bank has extended its gold buying streak to 29 consecutive months, with market observers reporting the bank’s holdings reached approximately 64 tonnes by July 2025.

The sustained purchasing campaign represents a dramatic reversal from the bank’s previous strategy. Just six years ago, the CNB held only 8 tonnes of gold, marking the lowest reserves in its history.

The central bank has maintained an unusually aggressive acquisition schedule, according to precious metals market analysis.

The Czech central bank has been adding an average of 1-3 tonnes monthly since beginning its aggressive buying program. Recent World Gold Council data shows the bank added gold for 21 consecutive months through November 2024, with year-to-date net purchases totaling nearly 20 tonnes by that point.

CNB Governor Aleš Michl announced plans to expand gold reserves to approximately 100 tonnes by 2028, a ten-fold increase from the 2019 low. The target would represent the largest gold holdings in the bank’s history.

The central bank cites portfolio diversification as a key motivation. Current gold holdings represent a small fraction of the CNB’s total international reserves, which rank among the world’s largest relative to GDP.

“If we have an infinite investment horizon, it is very important that we have assets that do not move in the same direction,” Michl said in previous statements explaining the strategy.

Read: Eastern Europe Central Banks Lead Global Gold-Buying Spree

The Czech buying spree reflects a broader global trend. Central banks worldwide purchased over 1,000 tonnes of gold annually in recent years, driven by economic uncertainty and desires to reduce dependence on traditional reserve currencies.

Most Czech gold reserves are stored in London for trading liquidity, though some remains in Prague for coin production. The bank occasionally lends gold to generate additional returns.

The dramatic increase reverses decades of gold sales. When the Czech Republic was established in 1993, the CNB inherited 63.3 tonnes of gold but sold most holdings in the late 1990s, retaining just 14 tonnes by 1998.



Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

This Debt Cycle Ends With Gold | Allan Candelario – STLLR Gold

Why This Gold Run Isn’t Over Yet! | Scott Hicks – Prime Mining

This Gold Market Is Fueling Big Swings | Rory Quinn – Yukon Metals Corp

Recommended

Canadian Copper Secures $8 Million Lead Order From Ocean Partners As Part Of Larger Funding Round

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Related News

China’s Demand for Gold Remains Stagnant in First Half of 2020, Rebound Anticipated by End of Year

Despite gold prices reaching record levels amid the coronavirus pandemic, the demand for the precious...

Saturday, July 11, 2020, 03:30:00 PM

Gold Demand Is Real This Time | John-Mark Staude – Riverside Resources

In this conversation, John-Mark Staude, CEO of Riverside Resources Inc. (TSXV: RRI), talks about current...

Sunday, July 20, 2025, 12:39:00 PM

SKRR Exploration Completes Phase One Exploration At Olson Project, Drilling To Commence Later This Month

SKRR Exploration (TSXV: SKRR) this morning released results from its ohase one geological and geophysical...

Thursday, September 10, 2020, 08:23:21 AM

Great Bear Increases Flow Through Financing To $69.9 Million

Great Bear Resources (TSXV: GBR) apparently has seen strong demand for the flow-through financing it...

Thursday, January 21, 2021, 07:36:16 PM

Omai Gold Intersects 6.6 G/T Gold Over 9.0 Metres At Wenot Pit

Omai Gold Mines Corp. (TSXV: OMG) announced today the results from its ongoing 5,000-metre drill...

Tuesday, July 6, 2021, 09:49:00 AM