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WGC:Central banks keep gold in focus in February

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Central banks reported 24t net purchases in the second month of the year The National Bank of Poland led net purchases, adding 29t to its gold reserves, making February its 11th consecutive month of net buying The People’s Bank of China, the Central Bank of the Republic of Turkey, the Central Bank of Jordan, the Czech National Bank and the Qatar Central Bank also reported net purchases in February. 

Demand for gold from central bankers continues, with data available for February showing reported global central bank gold reserves rising by 24t. Thus far, Poland, China, Turkey and the Czech Republic have led gold demand from emerging market central banks.  

As in the preceding months, much of the buying was centred on those central banks that have been regular buyers/sellers of late:

  • National Bank of Poland (NBP) lead month and year-to-date net buying, adding 29t in February alone. Year-to-date, NBP added 32t of gold, with its total gold holdings now 480t or 20% of its total reserves
  • People’s Bank of China (PBoC) added 5t of gold in February, its fourth consecutive month of net buying since it resumed reporting in November 2024
  • The Central Bank of the Republic of Turkey added 3t of gold in February, with its gold reserves totalling 623t or 38% of its total reserves
  • The Central Bank of Jordan also added 3t of gold in February, with total gold reserves now at 72t or 30% of total reserves
  • Qatar Central Bank reported 2t of net buying in February; its total gold holdings now stand at 114t which constitutes 19% of total reserves
  • Czech National Bank added 2t of gold to their reserves this month, its gold holdings stand at 55t or 3% of total reserves
  • Net sellers for the month of February were the National Bank of Kazakhstan (-8t) and the Central Bank of Uzbekistan (-12t). Both central banks lead net selling activity year-to-date, down 4t
  • Despite net sales y-t-d, gold reserves form 54% of Kazakhstan’s total reserves, bringing its total to 280t.

The National Bank of Belgium (NBB) has addressed recent media reports on the monetisation of Belgium’s gold reserve for public finance purposes, particularly defence spending. In a recent press release, NBB reaffirmed its independence and said gold reserves constitute assets allocated for achieving “public interest tasks entrusted to the Bank.” 

The year has had a decent start as central banks’ appetite for gold continues to be robust. Our upcoming Gold Demand Trends report scheduled for publication on 30th April, covering central bank demand for the entire first quarter.

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Mutual Engagement Ring-Wearing On The Rise, Insurance Lagging: Jewelers Mutual Group 2026 Engagement Ring Study

Jewelers Mutual Group 2026 Engagement Ring Study Finds Mutual Ring-Wearing Has Overtaken Tradition, But Insurance Hasn’t Kept Pace With How Couples Live With Their Rings.

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Jewelers Mutual Group 2026 Engagement Ring Study finds mutual ring-wearing has overtaken tradition, but insurance hasn’t kept pace with how couples live with their rings.

Jewelers Mutual® Group, the jewelry insurer backed by more than 100 years of expertise, released new findings from its 2026 Engagement Ring Study, examining how couples shop for, wear and protect one of the most meaningful purchases of their lives, and where coverage often falls short. Results indicated that as ring-wearing norms shift, protection habits haven’t caught up, leaving a growing gap between what couples own and what they cover.

The generational split is wide. More than 80% of couples ages 55 to 64 both wear a ring, compared with just 43% of couples ages 18 to 24, suggesting mutual ring-wearing, while now the norm overall, is still catching on among the couples getting engaged today.

The risk window opens well before anyone gets down on one knee. Forty-one percent of proposers hold onto the ring for more than a month before proposing, and nearly half (45%) store it somewhere unsecured, like a drawer or closet, in the meantime.

Once the ring goes on, it tends to stay on. Ninety percent of wearers travel with their engagement ring, and most don’t take it off for everyday activities that put it at risk, including cooking (60%), sleeping (60%) and hiking (65%).

The financial exposure is real: 62% of respondents count their engagement ring among the three most expensive things they own. Yet among uninsured wearers whose ring was damaged, 55% never had it repaired.

Couples should  take a few key steps to protect an engagement ring:

  • Purchase insurance before or at the time of the proposal, not after
  • Document the ring with photographs and a professional appraisal
  • Store the ring in a safe or safety deposit box before the proposal
  • Consider specialized jewelry insurance, which covers loss, theft and damage that standard homeowners or renters’ policies may not adequately address

Design or uniqueness remains the top factor in choosing a ring, cited by 52% of respondents, far ahead of price, stone size and brand. Solitaire settings have become the most popular choice since 2024, now making up 37% of rings versus 22% two years ago, and white gold remains the most common metal, though preference in platinum has grown considerably.

Budget confidence tracks with intention, not price point: respondents who set a ring budget based on personal comfort, rather than an external benchmark, report the highest confidence in their purchase and the lowest financial stress about it. That deliberateness carries past the purchase, too.

Among wearers who don’t yet own their final ring, 84% say they’re still actively researching options, a sign that even once a ring is on, the decision-making isn’t necessarily over. When couples do seek guidance on insuring what they’ve chosen, they turn to people they trust: jewelers rank as the second most trusted source for jewelry care recommendations, behind only family.

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