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World Gold Council data confirms persistent central bank demand

Within the last few days, the World Gold Council (WGC) has confirmed that central bank demand continued at a robust pace in December, with the new figures showing a huge appetite for the precious metal.

Gross purchases totalled 41 tonnes in the final month of the year. As we have come to expect banks which made gold a focus of their holdings in 2023 were amongst the most prolific buyers. The People’s Bank of China, the Central Bank of Turkey, and the Central Bank of Uzbekistan led the pack with China officially declared the largest purchases of the year.

There’s no reason to believe that buying habits will change now that the new year is underway – meaning gold prices will continue to benefit from this support.

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