El Salvador has made its first gold purchase in more than three decades, acquiring 13,999 ounces valued at nearly $50 million.
The move comes as the nation looks to diversify its international reserves and bolster financial stability, following years of significant exposure to bitcoin.
Reserve diversification strategy
The country’s central bank announced the gold acquisition, which increases El Salvador’s total gold holdings to 58,105 ounces, now worth approximately $207 million.
This decision arrives during a period of record-high gold prices, with the metal trading close to $3,600 per ounce and up over 36% year-to-date.
Central bank data shows that as of July 2025, El Salvador’s net international reserves reached $4.7 billion, with about $700 million held in bitcoin.
For an up-to-date record of El Salvador’s bitcoin reserves, see the El Salvador bitcoin treasury tracker.
Balancing bitcoin and gold
El Salvador famously became the first country to adopt bitcoin as legal tender in 2021, under President Nayib Bukele.
Analysts view this gold purchase as an effort to reassure international partners and provide stability amid bitcoin’s price swings.
This move also aligns with a global trend, as central banks worldwide have been accumulating gold, purchasing over 1,000 tonnes annually for the past two years, according to the World Gold Council.
Global central bank gold accumulation
Currently, gold represents nearly 20% of central bank reserves globally, second only to dollar assets.
Goldman Sachs recently suggested that ongoing political uncertainty in the US could prompt central banks to further shift reserves from the dollar to gold, potentially driving prices even higher.
El Salvador’s gold potential
President Bukele recently claimed that the country “potentially” possesses the largest gold deposits per square kilometer in the world, hinting at further resource development opportunities.
