[Global Central Banks Purchased 321 Tons of Gold in Q3, a Nearly Two-Year High] According to The Kobeissi Letter, as reported by Deep Tide TechFlow on November 11th, global central banks' net gold purchases reached 321 tons in the third quarter of 2026, the largest quarterly purchase since the fourth quarter of 2024 and the fifth highest on record. This figure represents an increase of approximately 8% from the 296 tons in the second quarter and an increase of approximately 453% from the low base in the first quarter; the five-year quarterly average is approximately 227 tons. China and Poland led the way in the third quarter, increasing their holdings by 63 tons and 40 tons respectively. On an annual basis, global central banks have cumulatively purchased 675 tons of gold this year, an increase of approximately 6% compared to the same period in 2025. The account commented that central banks are "actively buying gold on dips."