WGC: World central banks bought 37 tons of gold in July

According to initial calculations by the World Gold Council (WGC), global central banks added 37.1 tons to their gold reserves in July.

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WGC: World central banks bought 37 tons of gold in July © The Strategist

Poland (14.3 tons), Uzbekistan (9.6 tons), and India (5.4 tons) were the top purchasers. Jordan boosted its reserves by 4.3 tons, while Turkey enhanced theirs by 3.8 tons. Qatar saw an increase of 2.3 tons, and the Czech Republic’s reserves grew by 1.6 tons. Egypt and Malta also added 0.1 tons each to their reserves.

Gold was sold by Kazakhstan, weighing 3.9 tons, and by Mongolia, weighing 0.7 tons.

Central banks have continued to store gold diligently in recent months. In a review, WGC analyst Krishan Gopaul stated that although the rise in the gold price has led to a decrease in overall demand, it has still been positive.

source: gold.org

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