Central banks’ gold buying slowed in October but did nothing to alter the overall trend of robust buying that has captured the attention of gold investors. Reported global net purchases totalled 42 tonnes (t) during the month, 41% lower than September’s revised total of 72t, but still 23% above the January-September monthly average of 34t.
Posted 2 days ago
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Posted 1 month ago
Central banks collectively increased their gold reserves in August for the third consecutive month. They reported adding 77t to global official reserves during the month, a 38% up-tick from July’s buying. Recent buying has reinforced our confidence that the long-term trend of healthy central bank demand remains in place.
Posted 2 months ago
China’s local gold price premium has rocketed to previously unseen levels, reaching US$121/oz on 14 September. And August’s US$41/oz monthly average already marked a record since the Shanghai Gold Exchange’s establishment in 2002.
Posted 2 months 1 week ago
Expectations for the end of the BoJ’s negative policy rate intensified
The BoJ relaxed its yield curve control (YCC) program in late July. Governor Ueda’s first surprise move since taking the wheel: he effectively doubled the YCC’s upper limit to 1%, while keeping the policy rate unchanged at -0.1%. This led to surges in both the 10-year JGB yield and its volatility.
Posted 2 months 2 weeks ago
Gold prices quoted in USD and RMB headed in different directions in August. Major factors including rising US Treasury yields and a strong dollar weighed on the international gold price in USD. But the Chinese currency weakness, which depreciated by 2% against the dollar in the month, led to a mild increase in the RMB gold price.
Posted 2 months 3 weeks ago
Having reported a return to net buying in June, the latest data shows global central banks continued to add to their gold reserves in July. Central banks reported healthy net purchases of 55t during the month.
Posted 2 months 4 weeks ago
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.
Posted 4 months ago
Despite June weakness, the LBMA Gold Price AM in USD and the Shanghai Gold Benchmark PM (SHAUPM) in RMB ended the first half of 2023 higher by 5% and 9% respectively – the depreciation of RMB against the dollar over the period contributed to the significant difference.
Posted 4 months 3 weeks ago
Posted 5 months ago
Global central banks reported net sales of 27t in May, less than half the net sales seen in April. Excluding Türkiye’s sales, the trend in central bank buying is still in place.
Posted 4 months 4 weeks ago
Central bank gold reserves declined by 71 tonnes in April, primarily due to Turkish selling. Despite this, we expect central banks to remain net buyers in 2023, supported by their overall positive sentiment towards gold reserves.
Posted 6 months ago
Posted 6 months 2 weeks ago
According to the IMF, reported global central bank gold reserves remained virtually unchanged in March. Available data shows purchases almost perfectly offset sales, resulting in a net increase of 0.2 tonnes.
Posted 7 months ago
Central bank gold buying momentum showed no signs of stalling in February. Reported global gold reserves rose by 52t during the month – the eleventh consecutive month of net purchases – following January's 74t. 1 This excludes updated data for Russia (more on that below), but still maintains the upward trend (based on the 12-month moving average) since June 2022.
Posted 8 months ago
Record central bank gold buying last year shone a spotlight on the past, present and future of gold as a reserve asset. There are compelling reasons to expect continued buying from this sector
Posted 8 months 1 week ago
A spate of bank failures in March could be the first serious cracks to appear as a result of unprecedented monetary tightening. As a crisis hedge, gold is responding as expected. Read more here…
Posted 8 months 2 weeks ago
Central bank gold demand in 2023 picked up from where it left off in 2022. In January, central banks collectively added a net 31t to global gold reserves (+16% m-o-m).
Posted 9 months ago
In December, central banks have reported adding a net 28t of gold to global reserves, down sharply (53%) from the previous month (60t).
Posted 10 months ago
