El Salvador boosts reserves with nearly 14,000 ounces of gold

The Central Reserve Bank of El Salvador (BCR) has announced the acquisition of 13,999 troy ounces of gold, equivalent to $50 million. The new purchase bumps El Salvador’s gold holdings from 44,106 troy ounces to 58,105 troy ounces, with a value estimated at $207.4 million. 

This is the first gold purchase made by the Central Bank of El Salvador since 1990. The country is following in the footsteps of major nations like China, India, and Turkey, which are frequent buyers of gold.

El Salvador wants to diversify its reserves

El Salvador stated that acquiring gold is part of the country’s International Reserves diversification strategy. 

The country’s BCR believes in gold and views it as a universally strategic asset. It stated that the precious metal will help El Salvador strengthen its long-term financial plan and protect the country’s economy from turbulent international markets. 

The central bank believes that investing in gold brings greater stability for El Salvadorans. 

“The implementation of this strategy is possible thanks to the strengthening of the Central Reserve Bank’s assets in recent years … resulting from the various policies implemented by President Nayib Bukele,” wrote the Central Bank of El Salvador (BCR) in the release.

El Banco Central de Reserva informa que ha adquirido 13,999 onzas troy de oro, equivalentes a US$50 millones, como parte de la estrategia de diversificación de sus Reservas Internacionales. pic.twitter.com/UAqUctFuns

— Banco Central de Reserva (@bcr_sv) September 4, 2025

Is gold the solution to El Salvador’s Bitcoin conservatory?

The decision to acquire gold shows that El Salvador is trying a different approach to strengthen its reserves. 

Since 2021, the country has focused on acquiring Bitcoin. However, the country was faced with massive backlash after an IMF report showed that El Salvador had not purchased new bitcoins since December of last year. The IMF demanded that the Central American country stop buying Bitcoin after providing a loan worth $1.4 billion. President Nayib Bukele did not address the IMF’s claims, and the country’s Bitcoin Office moved its BTC into different wallets for security reasons.

Analysts view El Salvador’s latest gold purchase as a positive sign. The BCR is trying to stabilize its balance sheet since Bitcoin is volatile. The country’s central bank reported net international reserves of $4.7 billion in July 2025. That’s an increase from the $3 billion recorded a year earlier. About $700 million is held in Bitcoin.

El Salvador is just copying other countries. Central banks from around the globe have been adding over 1,000 tonnes of gold collectively each year for the past two years. They are on track to come close to that figure again in 2025, the World Gold Council (WGC) said. 

Based on a recent report from the WGC, central banks purchased 10 tonnes of gold in July. The precious metal now accounts for nearly 20% of global reserves, ranking second after the US dollar. Goldman Sachs believes that if the American Federal Reserve Bank loses its independence, investors will convert some of their US treasuries into gold. This will push the gold buying spree even further, pushing the precious metal to $5,000 per ounce.

KEY Difference Wire helps crypto brands break through and dominate headlines fast