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.