Most of the precious metal, 23 tons, was obtained by Turkey. Today 565 tons of gold are stored in the country.
Central banks around the world added another 31 tons of gold to their reserves in January, a 16% increase in gold purchases compared to December last year, according to Bloomberg.
According to the World Gold Council, most of the precious metal, 23 tons, was obtained by Turkey. Today the country holds 565 tons of gold, which is the highest in history.
It was noted that Turkey has been hoarding gold for the past few months. The country’s central bank last year was the biggest buyer of the metal among the world’s central banks.
Gold is a popular commodity among Turkish households, who use it as a hedge against currency and inflationary pressures in the country.
The People’s Bank of China and the National Bank of Kazakhstan became the second and third largest buyers of raw materials, adding 15 and 4 tons, respectively.
As reported, in 2022, global central banks bought 1,136 tons of gold for a total of nearly $70 billion. This is the highest volume since 1967.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.