Gold Focus: Items tagged with "central banks "

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.

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.

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?

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.

Potential side-effects of monetary and fiscal medicine

Wishful thinking. That’s how Angel Gurría, secretary general of the Organisation for Economic Co-operation and Development (OECD), responded to any prospect of a swift economic recovery from the coronavirus pandemic. But the scale of the impact on the global economy – as well as our daily lives – has been matched by the scale of the financial response.

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.

ECB review signals little change in short-term

At the end of January, the new head of the European Central Bank (ECB), Christine Lagarde, announced the launch of a year-long strategic review of the bank’s monetary policy strategy. Stemming from this, there has been much discussion recently about the ECB’s existing “below but close to 2%” inflation target, and whether this needs to be made more specific, both in aim and measurement. 

Central bank demand remains on course for remarkable 2019

In November, central banks reported adding 27.9 tonnes – on a net basis – to global official gold reserves, 43% lower than October’s increase. On a year-to-date basis, this brings cumulative net purchases to 570.2t, 11% higher the same period in 2018 (515.2t).

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.

2019 Central Bank Gold Reserves Survey signals more buying to come

Our Central Banks and Public Policy team have just published the results of the 2019 Central Bank Gold Reserves Survey. The survey gives a fascinating insight into the minds of central bankers and is especially timely since central banks continue to post record-breaking levs of net gold purchases in recent quarters.

Emerging markets dominate central bank gold-buying bonanza

Gold demand strides confidently into 2019 – up 5% year-on-year.

VAT in China

In March the amount of gold that left Shanghai Gold Exchange vaults - also known as the SGE loadouts - hit 218t. This is a chunky number. It is the highest March on record, almost 30% higher than the average monthly loadout since the start of 2016 and a 13% increase on March 2018.