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According to Forbes, there maybe a change occurring.

It is entirely possible that the central bank buying binge will continue apace, according to an August-dated report from ETF Securities (U.S.) LLC.
The research notes that central banks have remained solid buyers of the metal despite soft demand from investors and high levels of bets for a price decline in the futures market.
Of course, it could be that central bankers are buyers when prices are relatively weak, which also tends to coincide with periods when investment demand is soft.
Whatever, the reason, it would seem that things are different now than they were over the decades from 1966 through 2007. Now when bullion prices are slipping, it might be reasonable to assume that at least some central banks will enter the gold market with orders to buy. That's quite a turnaround from 20 years ago when consistent selling was the rage in the official sector.
Gold futures were recently changing hands at around $1,197 a troy ounce, down from approximately $1,336 a year ago, according to data from Bloomberg.