Month after month, the World Gold Council (WGC) has tracked elevated levels of demand from central banks around the world – and that trend shows no signs of cooling off anytime soon. The latest data shows that while buying has continued at elevated levels, with a net total of 42 tonnes acquired in October – below September’s spree but still incredibly robust. This month’s total is 23% above the January-September monthly average of 34t.”
The WGC’s senior analyst, EMEA Krishan Gopaul said key trends remain in play. “The People’s Bank of China remained the largest purchaser, reporting the addition of 23t of gold to its reserves – the twelfth consecutive monthly addition. This brings its y-t-d net purchases to 204t and lifts its reported gold reserves to 2,215t.”
