Perspectives on the Turkish gold market
Turkey has a long tradition of gold demand and, perhaps better than anywhere else, illustrates the broad role gold can play in modern society.
Central Bank Gold Statistics: May 2024
2024 Central Bank Gold Reserves Survey
An increasingly complex geopolitical and financial environment is making gold reserves management more relevant than ever. In 2023, central banks added 1,037 tonnes of gold – the second highest annual purchase in history – following a record high of 1,082 tonnes in 2022.
Central bank gold buying picks up in April
The rapid rise in the gold price during March raised several questions. One of these was whether central banks – whose demand has been posited as a key reason for the recent rally – would change their gold buying behaviour in response.
Central bank gold statistics - March 2024
Central banks reported 16t of net buying in March via the IMF and other public data sources. Demand remained healthy: monthly gross purchases were steady m/m at 40t, partly offset by gross sales of 25t.
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 accumulate more gold in January – starting 2024 as they mean to go on?
In January, central banks reported that they increased global official gold reserves by 39t. This was more than double the (revised) December net purchases of 17t, and the eighth consecutive month of net purchases.
Central Bank Gold Statistics - December 2023
Reported global central bank gold reserves, via the IMF and publicly available sources, rose by a net 39t in December. Gross sales (2t) were again dwarfed by gross purchases (41t), highlighting the strength of buying.*
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