For the eleventh consecutive month, global central banks increased their gold holdings, according to the WGC.
Global central banks purchased 51.7 tons of gold for foreign exchange reserves in February 2023. This is confirmed by information from the World Gold Council (WGC).
The biggest buyers of gold in the state in February were:
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China – 24.9 tons,
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Turkey – 22.5 tons,
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Uzbekistan – 8.1 tons,
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Singapore – 6.8 tons,
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India – 2.8 tons.
Kazakhstan became the biggest seller – 13.1 tons.
Gold reserves at the world’s central banks grew for the eleventh month in a row.
In particular, in January of this year, according to updated data, they added 73.7 tons.
Recall that Russia in January for the first time sold gold from the National Welfare Fund to cover a sharp increase in the budget deficit.
At the beginning of March, it became known that gold and Chinese yuan worth 131 billion rubles were sold from the funds of the National Wealth Fund of Russia in February. Proceeds from the sale of 12 tons of gold and 7.3 billion yuan were used to finance the budget deficit.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.