Following a decision by the Board of the National Bank of Georgia (NBG), the central bank has acquired an additional USD 100 million worth of highest-purity (999.9) LBMA-standard gold bullion for its international reserves.
As a result of this latest purchase, the share of monetary gold within the National Bank of Georgia’s international reserves will reach 15.5%. This reflects a broader upward trend in the country’s international reserves, which have reached a historic high of USD 7 billion, equivalent to 114.8% of the International Monetary Fund’s Assessing Reserve Adequacy (ARA) metric.
According to the National Bank of Georgia, the decision is part of the National Bank’s long-term international reserve management strategy, aimed at further diversifying its reserve assets, enhancing stability, and safeguarding the reserves against inflationary risks. Monetary gold is a widely recognised reserve asset among global central banks, serving to reduce overall portfolio risk and enhance resilience against geopolitical shocks.
The National Bank will continue to manage its international reserves in strict accordance with the principles of safety, liquidity, and profitability. As these reserves continue to grow, the NBG remains receptive to additional diversification opportunities, with future decisions informed by long-term strategic objectives and international best practices.
Notably, robust macroeconomic fundamentals enabled the central bank to replenish its international reserves throughout 2025. Last year, the NBG purchased USD 2.4 billion, increasing its reserves to USD 6.16 billion by year’s end. By February 2026, reserves had then reached a historic high of USD 6.65 billion.
This move aligns with broader global trends, as the world’s central banks continue their longstanding practice of accumulating gold. In the first quarter of 2026 alone, central banks purchased over 970 tonnes of gold, nearly 80% of the total volume acquired throughout 2025 (1,235 tonnes). Total central bank purchases have consistently exceeded the 1,000-tonne mark for four consecutive years (2022–2025).
Furthermore, central bank demand remains largely inelastic to fluctuations in the gold price, effectively providing a stable floor for its market value. The ongoing conflict in Ukraine, escalation in the Middle East, U.S.-China trade tensions, and the U.S.-Iran conflict that erupted in February 2026 have all consistently driven and reinforced a structural risk premium in gold prices, cementing its value as a premier safe-haven asset.
