Central banks have accumulated over 1,000t of gold in each of the last three years, up significantly from the 400-500t average over the preceding decade. This marked acceleration in the pace of accumulation has occurred against a backdrop of geopolitical and economic uncertainty, which has clouded the outlook for reserve managers and investors alike.

2025 Central Bank Gold Reserves (CBGR) survey, conducted between 25 February and 20 May, helps us shine a light on the continued importance of gold reserve management in these challenging times. This year we set a new benchmark, drawing in 73 responses – the highest since our survey commenced eight years ago.

Key highlights

• Similar to findings from previous surveys, central banks continue to hold favourable expectations on gold. Respondents overwhelmingly (95%) believe that global central bank gold reserves will increase over the next 12 months. 
• This year, a record 43% of respondents believe that their own gold reserves will also increase over the same period. Interestingly, none of our respondents anticipate a decline in their gold reserves.
• Gold’s performance during times of crisis, portfolio diversification and inflation hedging are some key themes driving plans to accumulate more gold over the coming year. In addition, gold’s unique characteristics and role as a strategic asset continue to be valued by central banks: its performance in times of crisis, ability to act as a store of value, and its role as an effective diversifier, continue to be cited as key reasons for an allocation to gold.
• The majority of respondents (73%) see moderate or significantly lower US dollar holdings within global reserves over the next five years. Respondents also believe that the share of other currencies, such as the euro and renminbi, as well as gold, will increase over the same period.
• The survey highlighted an uptick in respondents who actively manage their gold reserves, from 37% in 2024 to 44% in 2025. While enhancing returns remained the primary reason for this, risk management leapfrogged tactical trading as the second most selected reason.
• The Bank of England remains the most popular vaulting location for gold reserves amongst respondents (64%); a significantly higher percentage of respondents reported some domestic storage of gold reserves this year than they did last year (59% in 2025 vs 41% in 2024). Just 7% of respondents indicated that they plan to increase domestic storage of gold reserves over the next 12 months.

The brilliance of Jaipur’s gems and jewellery industry lit up the Novotel Jaipur Convention Center as JAS: The Premium B2B Show was inaugurated today. Hon’ble Deputy Chief Minister of Rajasthan, Princess Diya Kumari , our Inaugural Guest, and Chief Guest  C.K. Venkatraman, MD – Titan Company Ltd along  with  Pramod  Derewala, Chairman – NGJCI, and  Yogendra  Garg, Regional Chairman – GJEPC, inaugurated JAS: The Premium B2B Show with ribbon cutting, lamp lighting, inspiring addresses, and warm mementos.

Committee members —  Alok Sonkhiya President,  Ashok Maheshwari Convenor, JAS,  Neeraj Lunawat Honorary Secretary,  Raju Mangodiwala Vice President & Co-Convenor, JAS,  Ajay Godha Joint Secretary, and  Naresh Agroya Co-Convenor, JAS & Coordinator, JEA — extended heartfelt gratitude to all dignitaries and guests.

Hari Krishna Exports marked a remarkable milestone: 33 years of dedication to excellence, integrity, and responsibility. Beyond another anniversary, this occasion served as a tribute to the values that have guided the organisation since its inception and to the many individuals who have been a part of this journey: clients, employees, partners, and well-wishers alike. And as a token of gratitude to our exclusive clients we did offer 1.33% off on every diamond purchase.

The celebrations this year carried a tone of gratitude and purpose. Across the company’s Mumbai and Surat units, the day began with a blood donation drive that collected 1,022 units, adding to a total of 21,404 bottles donated since the program began. Eye check-up camps were also organised. Everyone supporting this noble cause was warmly welcomed and appreciated. Dr. Himanshu Mehta, Viren Shah – President, NSCI, Hiten Anandpara, and Sanjay Pandya attended as distinguished chief guests, along with prominent dignitaries from the Gems and Jewellery Industry.

The event was followed by a heartfelt recognition ceremony, honouring 68 team members who have been part of the organisation for over 20 years at the Surat and Mumbai state-of-the-art facilities. It was a reminder that behind every achievement lies the dedication of countless hands and hearts.

“We organise blood donation on the 1st anniversary of every Kisna franchise store and have a long term vision of organising blood donation drives every week.” 

“We have always believed that a company’s true strength comes from the lives it touched.” said Ghanshyam Dholakia, Founder and Managing Director of Hari Krishna Exports. “This milestone belongs to every team member, every donor, and every well-wisher who supported us with faith and dedication”, he added. 

However, the day’s significance extended far beyond its activities. It was a reflection of the larger story that Hari Krishna Exports has quietly written over three decades, a story of going beyond business to make a lasting impact.

Hari Krishna Exports expresses heartfelt gratitude to every stakeholder: clients, team members, partners, and well-wishers who have stood by the company through this journey towards being a polished leader in the diamond manufacturing industry. Their faith and support have been instrumental in making every initiative a reality.

As Hari Krishna Exports marks the completion of its 33rd year, it does so with renewed purpose and a deepened commitment to collective progress. Because the journey toward sustainability, shared progress, and collective growth is only just beginning.