______________________________________________________
Central banks bought net 44t of gold in November
Krishan Gopaul
Senior Analyst, EMEA World Gold Council
Posted 5 January, 2024. 09:00
- Reported global central bank gold reserves, via the IMF and publicly available sources, rose by a net 44t in November
- Gross purchases (60t) heavily outweighed gross sales (15t) as central bank demand maintained its momentum*
Central banks bought net 44t of gold in November
Change by country
Central bank purchases in November 2023 continued to be dominated by banks who have been regular buyers so far this year.
Major buyers were all from emerging markets. The Central Bank of Turkey added the most gold during the month (25t), followed by the National Bank of Poland and the People’s Bank of China.
Changes year to-date
- The People’s Bank of China remains the largest gold purchaser in 2023.
- Emerging market banks have been the driving force on both the purchases and sales side.
- The Monetary Authority of Singapore continues to be the sole developed market bank adding gold to its reserves (the ECB addition was related to Croatia joining the eurozone in January).
*Total may not sum due to rounding.
Note: Change by country and changes year-to-date charts include changes of a tonne or more only. Year-to-date change chart reflects updated gold holdings for the Central Bank of Iraq showing its gold reserves increased by over 12 tonnes between Jan-Oct 2023 (latest data available).
______________________________________________________
If you wish to contact the author of a post, you can send us an email at voyagesoflight@gmail.com and we’ll forward your request to the author (if available). If you have any questions about a post or the website, you may also forward your questions and concerns to the same email address.
______________________________________________________
All articles, videos, and images posted on Dinar Chronicles were submitted by readers and/or handpicked by the site itself for informational and/or entertainment purposes.
Dinar Chronicles is an informational news aggregator. All content, including third-party reports and community commentary, is provided for educational purposes only. We do not provide financial, legal, or tax advice. We do not recommend the purchase or sale of any currency or investment. Please consult with a licensed professional before making any financial decisions.
Copyright © Dinar Chronicles
Advertisement
______________________________________________________
______________________________________________________
