World central banks in January, according to preliminary estimates of the World Gold Council (WGC), purchased in gold and foreign exchange reserves of 39 tons of gold.
This is more than double the specified volumes of December (16.9 tons) and makes January the eighth consecutive month of growth, notes WGC analyst Krishan Gopaul in his review.
The largest buyers in January were again Turkey (11.8 tons) and China (10 tons). Also bought gold in reserves India (8.7 tons), Kazakhstan (6.2 tons), Jordan (3.1 tons), Czech Republic (1.7 tons) and others.
Significant sales were reported only by the Central Bank of Russia (3.1 tons, according to WGC). This repeats a trend since 2021, Gopaul notes: a decline in stocks of about 3 tons followed by replenishment. “We believe this activity is related to the country’s coinage program,” he explains.
