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POSTED ON April 8, 2021  - POSTED IN Key Gold Headlines

Despite a significant selloff by Turkey, central banks globally added a net 8.8 tons of gold to their reserves in February, according to the latest data compiled by the World Gold Council.

Gold-buying by central banks slowed last year from the record pace we saw in 2018 and 2019, and that trend has continued into 2021, but many countries continue to load up on the yellow metal. Turkey and Russia’s sales through the first two months of the year have pushed net central bank reserves down, even while several countries continue to boost their gold holdings.

POSTED ON January 12, 2021  - POSTED IN Key Gold Headlines

Six central banks added gold to their reserves in November. Purchases totaled 16.8 tons, consistent with the level of purchases in both August and September.

On net, central banks were sellers globally in November, thanks to a large decrease in reserves by the Turkish central bank, according to the latest data reported by the World Gold Council.

Gold-buying by central banks has slowed from the record pace we saw in 2018 and 2019, but many countries continue to load up on the yellow metal.

POSTED ON December 27, 2020  - POSTED IN Guest Commentaries

The People’s Bank of China was the first central bank to roll out a digital currency. The digital yuan recently got a boost when China’s biggest online retailer announced it has developed the first virtual platform to accept the Chinese digital currency.

Digital currency is nothing more than a virtual banknote or coin that exists in a digital wallet on your smartphone instead of a billfold or a purse. Digital currencies issued by central banks are backed by the state, just like traditional fiat currency.

POSTED ON December 3, 2020  - POSTED IN Key Gold Headlines

After two months of net global declines in gold holdings, central banks became net buyers again in October.

Gold-buying by central banks has slowed from the record pace we saw in 2018 and 2019, but many countries continue to load up on the yellow metal. In October, central banks added a net 22.8 tons of gold to their reserves, according to the latest data compiled by the World Gold Council.

POSTED ON October 8, 2020  - POSTED IN Key Gold Headlines

Gold-buying by central banks has slowed from the record pace we saw in 2018 and 2019, but many countries continue to load up on the yellow metal.

August saw the first net global decline in central bank gold holdings, but the number was skewed by a big sale by one central bank. Overall, seven countries increased their gold reserves by a ton or more in August, tying February for the highest number of buyers in a single month this year.

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