Yet another country wants gold.
On Monday (Sept. 25), the Bank of Tanzania (BoT) announced it is buying gold from domestic sources to establish its own reserves.
Poland is buying gold again.
The National Bank of Poland added nearly 15 tons of gold to its reserves in April, according to data published by the bank last week. It was the largest increase in the country’s reserves since June 2019 when the bank boosted reserves by almost 100 tons.
Note: This article has been edited with additional data reported by the World Gold Council released after publication.
After charting the highest level of net gold purchases on record in 2022, central banks started out 2023 right where they left off.
Central banks globally added another net 77 tons to their gold reserves in January, according to the latest data compiled by the World Gold Council.
We talk a lot about the Federal Reserve. Its policies have a significant impact on the economy and it moves markets week after week. For instance, over the last year or so, the Fed’s “inflation fight” has created headwinds for gold and silver.
But what exactly is the Federal Reserve?
Central banks globally added another net 50 tons of gold to their reserves in November, driven in part by the first official purchase by China since 2019.
After adding a historically high amount of gold to reserves in the third quarter, central banks kicked off Q4 buying more gold.
According to data compiled by the World Gold Council, central banks globally added another 31 tons of gold to official reserves in October.
Gold demand through the first half of 2022 came in at 2,189 tons, up 12% over the first half of last year, according to the World Gold Council Gold Demand Trends Q2 report.
Central banks globally added another net 35 tons of gold to reserves in May, according to data compiled by the World Gold Council. This follows on the heels of a net 19.4-ton increase in gold holdings in April and an 84-ton surge in gold reserve through Q1.
The Czech National Bank is about to go on a gold-buying spree. Incoming CNB Governor Ales Michl said he plans to increase the bank’s gold holdings nearly 10-fold during a recent magazine interview.
Central banks globally added a net 14.2 tons of gold to their reserves in December, according to the latest data from the World Gold Council. Central bank gold buying was up 82% year-on-year.
Turkey was the biggest buyer in December, adding 10.1 tons of gold to its reserves. That boosted the country’s total gold holdings to 10.1 tons. Turkey was a big seller in the third quarter of last year, but appears to be replenishing its reserves.
