Insights: Items tagged with "central bank gold"

Central banks bolster gold reserves further in February, albeit at a slower pace

Data for February shows that reported global central bank gold reserves rose by 19t, the ninth consecutive month of growth. At the same time February’s buying was 58% lower than January’s total of 45t.

Central banks bought 77t in September

• Reported global central bank gold reserves, via the IMF and publicly available sources, rose by a net 77t in September
• Gross sales (1t) were dwarfed by gross purchases (78t), highlighting the strength of buying

Central banks return to net buying in June

Reported net purchases from central banks totalled 55t, the first month of sizeable global net buying since February.

As in recent months, activity from the Central Bank of Türkiye (CBRT) was pivotal to the global total.

The drivers behind gold’s June and H1 performance

Gold price weakness in June, according to GRAM, was largely the result of a rise in US Treasury yields, a fall in volatility, US dollar strength and ensuing outflows from global gold ETFs.

Central banks slide into net sales in November

Global official gold reserves fell by 21.5t in November according to data released by the IMF. A sizable sale from Uzbekistan tipped the balance in what would have otherwise been a flat month.

Quiet summer for central bank buying

Central banks bought 28.4t of gold in August, 9% less than in July. Leaving aside January’s 11.2t net sale, this is the lowest level of monthly net purchases so far this year.

Central banks maintain interest in gold in July

Today we’ve published our latest central bank statistics which now includes data for July. Central banks added a net 30.1 tonnes (t) to global official gold reserves during the month, virtually in line (+0.3%) with net purchases in June. This continues the healthy level of interest in gold we have seen from central banks so far this year.

Changing ECB strategy could be supportive for European gold investment

In a move which brings it closer in line with the US approach, the European Central Bank (ECB) has decided to adopt the tolerance for inflation overshooting its target. What does this mean for European investors, who have been watching the wrangling within the ECB over the direction of monetary policy for months now?

Healthy central bank demand continues in May

Following a higher level of monthly net purchases in March and April, our latest data published today shows that this trend continued into May.

Central bank gold buying gathers steam

As Krishan Gopaul’s blog post last week pointed out, central banks have been buying gold during the first four months of 2021. Over that period, we estimate that the official sector has added 150-200 tonnes of gold. 

How is central bank demand faring against our expectations?

We have written before about how, after a more inconsistent picture for central bank demand in the second half of 2020, our expectation was for continued net purchases in 2021 but at a more moderate pace than in previous record-setting years. So, how is that expectation holding up?

Central and Eastern European central banks significantly expand their gold reserves

Last month Hungary tripled its gold reserves. The decision by the National Bank of Hungary (Magyar Nemzeti Bank, MNB) to increase its gold reserves to 94.5 tonnes, a historic high, follows a 10-fold increase in Hungary’s gold holdings in the last quarter of 2018. 

Tracking and tracing central bank demand in August

In August, central banks switched from net buyers to net sellers for the first time in around a year and a half.

July central bank net purchases lowest since December 2018

Our central bank gold statistics were published today, and the latest IMF data makes for a very interesting read. Available data for July highlights central bank net purchases of 8.8t – the lowest level of monthly net purchases since December 2018 (-1.5t).

Central bank demand steady but concentrated in May

Central bank net purchases totalled 39.8t in May, in line with net purchases in March and April, and above the monthly average of 35t over the first four months of this year.

Central banks remain positive on gold amid COVID-19 risks

Our central banks team, in partnership with Yougov, recently concluded the 2020 Central Bank Gold Reserves Survey. This year’s survey, which saw a jump in the number of responses, shows strong signs of an increase in gold’s relevance for central bank reserve management.

Central banks demand creeps higher in February

In February, central banks bought a net 36 tonnes (t) of gold, almost a third higher than January’s net purchases, but 52% lower y-o-y. This brings y-t-d net purchases to 64.5t, 44% lower than the 116.1t of net purchases over the first two months of 2019.

Central bank buying gets off to slower start in 2020

Today we’ve published our latest central bank gold data, which now includes buying and selling activity for January 2020.

Central bank demand remains healthy but showing signs of slowing

Our latest central bank data is now available on Goldhub and makes for interesting reading. Looking at the latest statistics on gold, monthly increases (of a tonne or greater) in gold reserves have begun to ease over the past three months. In October, reported net purchases totalled a healthy 41.8t, but this was 16% lower than September (49.6t), which itself was 16% lower than August (59t).

No summer holiday for central bank demand

Over the past 18 months, central banks have had a voracious appetite for gold. Alongside the impressive AUM growth in gold-backed ETFs, this has been one of the most prominent stories in the gold market. As we noted in the most recent edition of Gold Demand Trends, in H1 2019 central bank demand hit the highest level since becoming net buyers in 2010.