Krishan Gopaul

Central banks continue to accumulate gold according to the latest data available. In October – data is lagged by two months – central banks added a further net 31t of gold to international reserves (-41% m-o-m).

Central bank net purchases of gold slowed to 20t in August, halving m-o-m. This is the fifth consecutive month of net purchases from the central banking sector.

Central bank demand remained robust in July. Global gold reserves increased by 37t (net), below June’s 64t increase. Added to the 270 of net purchases over H1, this pushes YTD central bank demand towards the 300t mark.

Last week we published our updated central bank gold statistics to include data reported for June. This new information shows that central banks added a net 59t to global gold reserves during the month.

The latest update to our central bank holdings data set – capturing data to end-May – is now available. It shows that in May, central banks reported adding a net 35t to global gold reserves.

Last week central banks stepped up their response to soaring inflation. Having been regarded as “behind the curve” in their attempts to control this issue thus far, they are now showing greater concern and resolve in bringing consumer prices down.

Global central bank gold reserves fell by 6t in February. This is the second consecutive month of net sales, something not seen since 2020. 

Following a strong 2021, in which central banks accumulated 463t of gold, today we’ve released the first set of central bank gold reserve data for 2022.

Since the Global Financial Crisis, it has been a turbulent ride for investors the world over. Europe has certainly been no exception: investors in the region have had to adapt to a high-risk environment. And as COVID-19 has introduced a new set of challenges to portfolio construction and return generation, robust risk management strategies are a top priority; wealth protection is as important as growth.

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.

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.

In the recently published 2021 Alternative Assets in Europe report, one thing is clear: alternative assets are en vogue amongst European investors.

Listen to the latest episode of 'Dig Deep - The Mining Podcast', out this week on the latest trends in gold demand.

Based on available data, central banks bought a net 32t of gold in June 2021. While Brazil was by far the bigger buyer in the month, several other central banks were active.