In the last two years central bank gold purchases as its share in global demand has tripled, representing between 25% and 30% noted by Commodity analysts at ANZ. “[Emerging market] central banks could purchase over 600 tonnes of gold annually until 2030, to take its share in their foreign reserves to 10%. China will likely […]
Central Banks Are Turning To Gold As They Lose Faith In Bonds – ANZ Read More »
Gold prices saw a 15% gain, despite challenging headwinds as the Federal Reserve maintained its aggressive monetary policies, supporting the higher bond yields and the U.S. dollar. The World Gold Council published its 2023 fourth quarter and full-year gold demand trends report, saying that annual gold demand, excluding over-the-counter markets, totaled 4,448 tonnes, a 5%
Central banks and OTC markets drive record gold demand in 2023 – WGC Read More »
In the past three months, gold purchases totaled 219 tonnes and the WGC sees a string of fourth quarters for more buying. The World Gold Council (WGC) reports that in August, central banks bought 77 tonnes, 38% more than in July. China, Poland, and Turkey headed the list of buyers. Reports say that the
Central Banks Buy More Gold, China Leading the Way Read More »
Central banks boosted their gold stockpiles amid a backlash against the dollar. Global reserves grew by 228.4 tons in the first quarter, the World Gold Council reported. 176% increase from a year ago. The recent surge in demand for gold has been seen as a sign of de-dollarization after the greenback became weaponized to put financial
“This was also comfortably within the 20-60t range of reported purchases which has been in place over the last ten consecutive months of net buying,” (Wrote Krishan Gopaul, Senior Analyst at the WGC.) (Kitco News) After a record-setting year in 2022, central banks remain very interested in gold at the start of 2023, according to the
Central Banks Continue to Scoop Up Gold in 2023 Read More »
