Global gold accumulation hits about $2 billion as African central banks join buying wave

By Solomon Ekanem Business Insider Africa, New York Saturday, April 11, 2026 African central banks are gradually aligning with a global shift toward gold-backed reserves, as total central bank purchases reached 27 tonnes in February 2026, valued at about $2 billion depending on prevailing prices. The uptick marks a rebound from January's slowdown and reflects a sustained push toward reserve diversification. ... Dispatch continues below ... ... ADVERTISEMENT ... Buy metals at GoldMoney and enjoy international storage GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit:  http://www.goldmoney.com/?gmrefcode=gata Global gold demand from central banks remains highly concentrated among a small group of consistent buyers rather than being evenly spread across the global financial system. Although more than 60 central banks have added gold in recent years, the bulk of net demand is still driven by a narrow group of aggressive accumulators, mainly in emerging markets. ... African participation remains modest but increasingly strategic. Uganda is at the forefront, launching a domestic gold purchasing programme targeting at least 100 kilograms (0.1 tonnes) over four months. Last year African central banks delivered mixed but increasingly strategic performances, with gold playing a central role in managing currency pressures and economic instability. ... ... For the remainder of the report: https://africa.businessinsider.com/local/markets/global-gold-accumulation-hits-about-dollar2-billion-as-african-central-banks-join/5h1cet2 * * * Support GATA by purchasing Stuart Englert's "Rigged" "Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon: https://tinyurl.com/3xt6uw66 * * * Help keep GATA going: GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: http://www.gata.org To contribute to GATA, please visit: http://www.gata.org/node/16 Donations of $500 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work: https://www.gata.org/sites/default/files/GATA-silver-round-front.png