This move signals a resumption of gold buying for the institution, which last added to its holdings in early 2024 with purchases of 4.7 and 2.5 tonnes. The bank cited long-term reserve management as the primary driver, aiming to diversify assets against persistent inflationary pressures and geopolitical instability. By reaching a volume equivalent to 114.8% of the International Monetary Fund’s Assessing Reserve Adequacy metric, the bank has secured a strong buffer against external shocks.

Officials at the bank emphasized that central bank demand remains largely indifferent to price fluctuations, providing a structural floor for the metal. The decision reflects a broader trend of institutions seeking safe-haven assets to hedge against systemic risks, including ongoing conflicts in Ukraine and the Middle East, as well as trade tensions between global powers. The bank anticipates that this official-sector appetite will continue to play a foundational role in gold market stability.