El Salvador Buys 13,999 Ounces of Gold Worth $50 Million to Expand Its Reserves

El Salvador’s Central Reserve Bank (BCR) has announced the purchase of 13,999 troy ounces of gold worth roughly $50 million. This move increases the country’s total gold holdings from 44,106 to 58,105 ounces, valued at approximately $207.4 million at current prices. It marks the nation’s first gold purchase since 1990.

Diversifying Reserves: Beyond Bitcoin, Toward Gold According to the BCR, acquiring gold is part of a broader international reserves diversification strategy. The bank emphasized that gold is seen as a universal strategic asset, helping to stabilize the economy and shield it from global market turbulence. “This step was made possible thanks to the strengthening of the Central Reserve Bank’s assets in recent years, as a result of policies implemented by President Nayib Bukele,” the BCR said in its statement.

From Bitcoin to Precious Metals The move comes after years of focusing on Bitcoin. Since 2021, El Salvador has invested regularly in BTC, but faced pressure from the International Monetary Fund, which demanded the country halt Bitcoin purchases in exchange for a $1.4 billion loan. Although Bukele ignored the IMF’s calls, the central bank now appears to be leaning on a more stable asset. In July 2025, El Salvador reported net international reserves of $4.7 billion, of which around $700 million was held in Bitcoin.

A Global Gold Rush El Salvador is not alone in increasing its gold reserves. According to the World Gold Council (WGC), central banks worldwide have collectively added more than 1,000 tonnes of gold annually over the past two years. In July 2025 alone, they bought an additional 10 tonnes. Gold now accounts for nearly 20% of global reserves, second only to the U.S. dollar. Goldman Sachs predicts that if the Federal Reserve were to lose its independence, investors could shift part of their holdings from U.S. Treasuries into gold — potentially driving prices up to $5,000 per ounce.

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