Recently, gold has surged again, reaching $4170! The latest "June 2026 Global Central Bank Gold Statistics" released by the World Gold Council (WGC) and the latest data from August once again demonstrate the asset allocation choices of global central banks in the context of de dollarization Although the overall increase in Q2 holdings has slightly slowed down compared to last year's high, spot gold prices have risen to a high of $4160- $4170/ounce against the trend, driven by expectations of easing tensions between the US and Iran, falling oil prices, and pressure on the US dollar! ️ 1、 Central Bank Gold Purchase: Who is Buying? Who is selling? According to WGC data, global central banks net purchased approximately 345 tons of gold in the first half of the year (H1 2026), and 289 tons in the second quarter (Q2) (a significant increase of 62% year-on-year). Buyer List (YTD): Poland: Net purchase of 82 tons (ranking first with total reserves rising to 632 tons). Uzbekistan: Net purchase of 41 tons. China (PBOC): Net purchase of 40 tons (with a monthly increase of approximately 15 tons/480000 ounces in June, achieving the 20th consecutive month of continuous increase, and official reserves climbing to 2346 tons). Others: Kazakhstan (27 tons), Czech Republic (11 tons), Singapore (10 tons), etc. follow up. Seller List (YTD): Türkiye: net sales of 83 tons (mainly in Q1 regulating the local market). Russia: Net sales of 44 tons. Although there are still outflows from Western ETFs, the strong "bottom buying" of central banks remains the core anchor point supporting the consolidation of gold prices at historical highs. 2、 Spot and ETF Fund Trends: Retail Investors Watch, Institutional Net Inflows Gold price performance: On August 5, 2026, spot gold (XAU/USD) surged by 2.1% to 2.3% during the day, reaching an intraday high of $4179/ounce; Futures prices (COMEX) have simultaneously risen above $4220! Institutional Placement Signal: The latest holdings of SPDR Gold Trust (GLD), the world's largest gold ETF, have risen to 1009.30 tons (a net increase of 3.43 tons in a single day against the trend), indicating that institutional funds still show a willingness to buy on dips at the current high level. Overall, the central bank's buying spree has not truly stopped. The demand for physical hedging such as gold bars and coins is extremely stable. In the current situation where the US dollar credit system is questioned and global macro uncertainty remains high, "buying gold" has already shifted from short-term tactical hedging to long-term strategic allocation by global central banks.