Gold prices are hitting new lifetime highs every week, but the rally is not deterring central banks around the world from stacking up gold to diversify foreign exchange reserves away from US debt. Data from the World Gold Council, compiled using International Monetary Fund and central bank statistics, revealed that global central banks made net additions of 15 tonnes to their gold reserves in August. The National Bank of Kazakhstan emerged as the primary gold purchaser during August. The Reserve Bank of India (RBI) did not buy gold for the second consecutive month in August. In fact, till August-end this year, RBI bought gold in only three out of eight months in 2025. This is a marked departure from the regular monthly gold purchases observed in 2024, according to an ET report. A

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