Krishan Gopaul

Central banks reported 40t of net buying in September via the IMF and other public data sources. Demand recovered during the month: monthly gross purchases of 48t were offset by gross sales of 8t.

Central banks have shown an ongoing commitment to accumulating gold in recent months. While the overall level of reported demand has cooled as the gold price has continued to rally to new record highs, it has nonetheless remained positive.

Central banks reported 12t of net buying in June via the IMF and other public data sources. Demand moderated during the month: monthly gross purchases of 31t were offset by gross sales of 18t.

Central banks reported 10t of net buying in May via the IMF and other public data sources. Demand moderated during the month: monthly gross purchases fell to 23t and offset by gross sales of 12t.*

The rapid rise in the gold price during March raised  several questions. One of these was whether central banks – whose demand has been posited as a key reason for the recent rally – would change their gold buying behaviour in response.

Central banks reported 16t of net buying in March via the IMF and other public data sources. Demand remained healthy: monthly gross purchases were steady m/m at 40t, partly offset by gross sales of 25t.

Data for February shows that reported global central bank gold reserves rose by 19t, the ninth consecutive month of growth. At the same time February’s buying was 58% lower than January’s total of 45t.

In January, central banks reported that they increased global official gold reserves by 39t. This was more than double the (revised) December net purchases of 17t, and the eighth consecutive month of net purchases.

Reported global central bank gold reserves, via the IMF and publicly available sources, rose by a net 39t in December. Gross sales (2t) were again dwarfed by gross purchases (41t), highlighting the strength of buying.*

Reported global central bank gold reserves, via the IMF and publicly available sources, rose by a net 44t in November. Gross purchases (60t) heavily outweighed gross sales (15t) as central bank demand maintained its momentum.

Central banks’ gold buying slowed in October but did nothing to alter the overall trend of robust buying that has captured the attention of gold investors. Reported global net purchases totalled 42 tonnes (t) during the month, 41% lower than September’s revised total of 72t, but still 23% above the January-September monthly average of 34t.

• Reported global central bank gold reserves, via the IMF and publicly available sources, rose by a net 77t in September
• Gross sales (1t) were dwarfed by gross purchases (78t), highlighting the strength of buying

Central banks collectively increased their gold reserves in August for the third consecutive month. They reported adding 77t to global official reserves during the month, a 38% up-tick from July’s buying. Recent buying has reinforced our confidence that the long-term trend of healthy central bank demand remains in place.

Having reported a return to net buying in June, the latest data shows global central banks continued to add to their gold reserves in July. Central banks reported healthy net purchases of 55t during the month.

Reported net purchases from central banks totalled 55t, the first month of sizeable global net buying since February.

As in recent months, activity from the Central Bank of Türkiye (CBRT) was pivotal to the global total.