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World Gold Council says central bank appetite for gold remains very strong

The latest figures from the World Gold Council confirm that gold continues to be in high demand by central banks the world over. The July data, released yesterday (Tuesday), show that net reserves increased by 37t.

Qatar Central Bank was the biggest mover, acquiring an additional 15t worth of gold through the month. This is the largest amount the Middle Eastern nation has ever added to its holdings in a single month.

Meanwhile, India added 13t to its gold reserves, and Turkey added 12t to bring its total holdings to a two-year high.

In 2022 to date, the total amount purchased by central banks is more than 300t. These figures underline the fact that the precious metal remains a valuable, trusted commodity globally and can be purchased with full confidence. Buy now.

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