Global monetary stance — GDP-weighted across 14 central banks.
10 = tight money, 1 = easy money.
Dovish / easingNeutralHawkish / tight
5.2CB gold demand /10
4hawkish banks
5dovish banks
5buying gold
◉ Trading signal
Global stance 4.86 (NEUTRAL), CB gold demand 5.16/10 — neutral gold, offer the dollar.
Gold
neutral
US Dollar
neutral
US Rates
neutral
This signal feeds The Desk.
A hawkish global stance is a gold headwind (real-yield channel); heavy
official-sector gold buying is a direct bid. The index nets them.
Read this honestly. The Fed and ECB policy rates are
live via FRED (marked ● live in
the board); the remaining banks' rates, reserves and meeting cadence are
seeded as of 2026-01 from published sources, pending a wider feed
(World Gold Council / IMF IFS for reserves, BIS for the other policy rates).
The stance and demand maths are deterministic and shown in full — no black
box. The CBI has only 0 days of forward record — far too short to claim it predicts anything. This measures itself honestly and will report a real number once the record accrues.
The board — 14 central banks, hawkish first
Central bank
Policy rate
vs neutral
Stance
Next meeting
Bank of Russia Russia
16.50%
+8.50
9.0 hawkish
2026-09-12
National Bank of Kazakhstan Kazakhstanbuys gold
16.00%
+7.00
9.0 hawkish
2026-09-04
National Bank of Poland Polandbuys gold
4.75%
+1.25
7.3 hawkish
2026-08-01
Central Bank of Turkey Turkeybuys gold
39.50%
+19.50
6.8 hawkish
2026-08-05
Bank of Japan Japan
0.50%
-0.75
5.4 neutral
2026-08-05
Bank of England United Kingdom
3.75%
+0.75
5.3 neutral
2026-08-03
Federal Reserve United States
3.62%
● live
+0.62
5.1 neutral
2026-08-02
European Central Bank Euro area
2.25%
● live
+0.25
5.1 neutral
2026-08-27
Reserve Bank of Australia Australia
3.60%
+0.10
4.3 neutral
2026-08-19
Reserve Bank of India Indiabuys gold
5.50%
-0.25
3.9 dovish
2026-08-01
Bank of Canada Canada
2.25%
-0.50
3.8 dovish
2026-09-02
People's Bank of China Chinabuys gold
3.00%
+0.25
3.7 dovish
2026-08-20
Reserve Bank of New Zealand New Zealand
2.75%
-0.25
3.7 dovish
2026-08-27
Swiss National Bank Switzerland
0.00%
-1.00
2.6 dovish
2026-09-18
Decision calendar — what's next
2026-08-01 Reserve Bank of India3.9
2026-08-01 National Bank of Poland7.3
2026-08-02 Federal Reserve5.1
2026-08-03 Bank of England5.3
2026-08-05 Bank of Japan5.4
2026-08-05 Central Bank of Turkey6.8
2026-08-19 Reserve Bank of Australia4.3
2026-08-20 People's Bank of China3.7
2026-08-27 European Central Bank5.1
2026-08-27 Reserve Bank of New Zealand3.7
2026-09-02 Bank of Canada3.8
2026-09-04 National Bank of Kazakhstan9.0
Official-sector gold demand
Federal Reserve 8133 tonnes reservesflat
Bank of Russia 2330 tonnes reservesflat
People's Bank of China 2280 tonnes reservesstrong buy
Swiss National Bank 1040 tonnes reservesflat
Reserve Bank of India 880 tonnes reservesbuy
Bank of Japan 846 tonnes reservesflat
Central Bank of Turkey 620 tonnes reservesbuy
European Central Bank 505 tonnes reservesflat
National Bank of Poland 480 tonnes reservesstrong buy
Bank of England 310 tonnes reservesflat
National Bank of Kazakhstan 290 tonnes reservesbuy