The willingness of global central banks to purchase gold has reached a new high since 2018, and the pullback in gold prices is seen as a configuration window BlockBeats News: On June 16th, according to the latest survey released by the World Gold Council, the willingness of global central banks to allocate to gold continues to heat up. Against the backdrop of a pullback in the high gold price environment, "buying on dips" is becoming an important strategy for reserve management in some countries. The survey conducted by the agency in collaboration with YouGov on 74 central banks showed that 45% of the surveyed central banks plan to increase their gold reserves in the next 12 months, the highest level since statistics began in 2018; Meanwhile, only one central bank has stated that it will reduce its gold holdings. This structural result indicates that despite the recent decline in gold prices from high levels, the long-term allocation demand of the global official sector has not weakened. The report points out that gold has doubled in price over the past three years due to continuous net purchases by the central bank, but the market environment has changed since 2026. The situation in the Middle East has driven fluctuations in energy prices, while strengthening market expectations of "long-term high interest rates," which has suppressed the short-term attractiveness of high-yield asset gold. Coupled with the phased withdrawal of speculative funds, gold prices have fallen to their lowest point since November last year. From a structural perspective, emerging markets and developing economies will remain the main buyers of gold in the future. According to the survey, about 53% of these central banks plan to continue increasing their holdings of gold, while the proportion of central banks in developed economies is only 18%, reflecting the significant differentiation in reserve diversification and risk hedging among different economies. Shaokai Fan stated that the price correction is reactivating the buying power of some central banks, and "the price decline has provided an entry opportunity for some central banks". He pointed out that in 2025, many central banks chose to wait and see due to the high gold price, and the current correction is changing this decision-making pace. In terms of purchasing methods, about half of the central banks planning to increase their holdings of gold tend to use their local currency to directly purchase gold from their own mineral systems, reducing the consumption of foreign exchange reserves; Another 38% chose to rebalance their allocation by selling other reserve assets. This means that gold is gradually evolving from a "substitute for foreign exchange reserves" to an "asset reallocation tool within the system".