Central banks buy gold: 863 tons in 2025 and tokenized gold rises on Ethereum
Central banks buy gold at a steady pace: 2025 total acquisitions reached 863 tons, helping push the gold price to a record average of $3,431 per ounce. Global gold demand also topped 5,000 tons for the first time, while the World Gold Council data suggests central bank buying may be 57% higher than official figures.
The article links the surge to geopolitical and reserve-risk concerns. After the 2022 reserves crisis—when parts of Russia’s reserves were frozen—reserve managers increasingly prioritized gold to reduce counterparty risk versus foreign-held dollars/euros. In a 2025 survey, 95% of respondents expected higher gold holdings next year, and 76% projected gold’s share in reserves to keep rising.
As physical supply logistics tighten, tokenized gold is gaining traction in crypto markets. Tokenized gold on the blockchain grew 360% in 2025, with products like Techemynt’s GoldNZ issuing audited, fully backed gold tokens. GoldNZ tokens can be traded on Ethereum and also on Polygon and Base. The ecosystem also includes an NZD-pegged stablecoin (NZDS) and silver-backed SilverNZ tokens.
For traders, central banks buy gold headlines reinforce the macro “safe-haven” narrative, while the tokenized gold growth points to continued inflows into real-world assets (RWA) on major chains—especially ETH—potentially supporting sentiment around on-chain gold and yield/hedging themes.
Bullish
Bullish. The news is macro-positive and partially crypto-structural.
1) Gold demand supports risk sentiment: sustained “central banks buy gold” flows (863 tons in 2025; ongoing multiyear streak) usually strengthen the safe-haven narrative. In past cycles, when official-sector demand rises, it can cushion broader risk assets during volatility, even if crypto is not directly tied to gold.
2) On-chain RWA momentum: a 360% jump in tokenized gold in 2025 suggests growing DeFi/crypto rails for hedging and access to reserve-like assets. That can attract wallet activity and liquidity toward ETH-linked infrastructure when traders seek diversifiers.
3) What could happen short term: the price references (all-time highs in gold) may trigger “macro rotation” narratives—some traders may add hedges via on-chain gold tokens, boosting attention to ETH and tokenized asset platforms.
4) What could happen long term: if reserve managers keep increasing allocations (95% expecting higher holdings; 76% expecting higher share), demand tailwinds could keep improving the credibility of RWA. More issuers and liquidity would likely reduce friction for tokenized gold products.
Key watch-outs: this is not a direct spot-crypto catalyst (no BTC/ETH price target). If gold rallies further on policy/geopolitical shocks, crypto could decouple; conversely, a stronger dollar/rates move could offset some risk-on behavior. Overall, the direction skews supportive for RWA/ETH-linked sentiment.