Business news from Ukraine

Central banks returned to gold purchases

4 August , 2023  

In June, the world central banks returned to gold purchases and, according to preliminary estimates of the World Gold Council (WGC), purchased 55.4 tons of gold into the gold and foreign exchange reserves. For comparison: in May, according to revised data, there was an outflow of 26.6 tons.

In June, Turkey returned to purchases (increased its reserves by 11.4 tons), which supported the general trend. The largest buyer was China (21.2 tons), as well as Poland (13.7 tons), Uzbekistan (8.4 tons), Czech Republic (2.5 tons), Qatar (1.6 tons), etc. were buying gold for reserves.

Only Kazakhstan (3.2 tons) and Singapore (1 ton) turned out to be large net sellers.

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