Central Banks

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). 3 September, 2020

2 September, 2020

Despite a general belief that Sovereign Wealth Funds (SWFs) do not invest in gold, our engagement with these institutions in recent years has increasingly shown that many SWFs do incorporate gold in their portfolios for diversification, capital preservation, and other factors.

27 July, 2020

For central banks focused on capital preservation, in the post-COVID world, gold may be safer than traditional reserve assets such as government bonds over a medium term horizon. 21 July, 2020

Our Director of Central Banks and Public Policy, Kurtulus Taskale Diamondopoulos, joins Pierre Ortlieb, economist at OMFIF, to discuss central bank gold reserves management amid the coronavirus pandemic. 10 July, 2020

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. 3 July, 2020

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. 11 June, 2020

In April, central banks bought another 31.6t based on IMF data. While the monthly increase is not far off the 6-month average (34.7t), it is 24% lower than March and 35% lower than April 2019.

5 June, 2020