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This is stated in a report for the IV quarter and 2018 as a whole, published on Thursday, January 31, on the website of the World Gold Council.
According to the WGC (industry organization created by the leading gold producers), the volume of purchases of gold by world central banks in 2018 increased by 74% compared with 2017 (374.8 tons). The last record for the past 50 years was set in 1967, when central banks purchased 1,404 tons of the precious metal.
Last year, the largest buyers of gold were Russia, Kazakhstan and Turkey - the Central Banks of these countries bought 274.3, 50.6 and 51.5 tons of gold, respectively. The share of Russia, Kazakhstan and Turkey accounted for 58% of the total gold purchased by central banks in 2018.
Net sales of a number of Central Bank of the world in the past year amounted to only 15.6 tons. Among the countries that sold the largest amount of gold in 2018 were Australia (4.1 tons), Germany (3.9 tons), Sri Lanka (2.4 tons), Indonesia (2 tons) and Ukraine (1,2 tons).
According to estimates by the consulting company Metals Focus, central banks of various countries of the world will buy about 600 tons more gold in 2019.
Among the short-term factors prompting the Central Bank to increase its reserves, experts note a slowdown in growth and increased uncertainty in the global economy. At the same time, in the longer term, de-dollarization of the gold and foreign exchange reserves of world central banks is actually taking place.
source: gold.org
According to the WGC (industry organization created by the leading gold producers), the volume of purchases of gold by world central banks in 2018 increased by 74% compared with 2017 (374.8 tons). The last record for the past 50 years was set in 1967, when central banks purchased 1,404 tons of the precious metal.
Last year, the largest buyers of gold were Russia, Kazakhstan and Turkey - the Central Banks of these countries bought 274.3, 50.6 and 51.5 tons of gold, respectively. The share of Russia, Kazakhstan and Turkey accounted for 58% of the total gold purchased by central banks in 2018.
Net sales of a number of Central Bank of the world in the past year amounted to only 15.6 tons. Among the countries that sold the largest amount of gold in 2018 were Australia (4.1 tons), Germany (3.9 tons), Sri Lanka (2.4 tons), Indonesia (2 tons) and Ukraine (1,2 tons).
According to estimates by the consulting company Metals Focus, central banks of various countries of the world will buy about 600 tons more gold in 2019.
Among the short-term factors prompting the Central Bank to increase its reserves, experts note a slowdown in growth and increased uncertainty in the global economy. At the same time, in the longer term, de-dollarization of the gold and foreign exchange reserves of world central banks is actually taking place.
source: gold.org
