El Salvador has purchased nearly $50 million worth of gold, marking its first bullion acquisition since 1990 and underscoring a shift toward diversifying reserves away from heavy Bitcoin exposure.
- The central bank confirmed buying 13,999 ounces, lifting total holdings to 58,105 ounces valued at about $207 million.
The move comes as gold trades near record highs around $3,600 an ounce, up more than 36% this year on strong central bank demand. Analysts view the step as a way to stabilize El Salvador’s balance sheet and reassure international partners, given Bitcoin’s volatility.
The nation’s reserves rose to $4.7 billion in July 2025 from $3 billion a year earlier, with about $700 million still held in Bitcoin. Globally, central banks have been accumulating gold at a record pace, making bullion the second-largest reserve asset after the US dollar. Goldman Sachs recently projected gold could reach $5,000 if the trend continues.
