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04.11.26 - 20:33
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Central Banks Just Bought Gold At Fastest Pace Since 2024, World Gold Council Says (ZeroHedge)
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Central Banks Just Bought Gold At Fastest Pace Since 2024, World Gold Council Says
Authored by Andrew Moran via The Epoch Times,Central banks continue to add to their gold reserves amid global inflation and geopolitical risks.Total third-quarter central bank demand rose by 42 percent year over year to 321 tons, "eclipsing recent typical quarterly buying levels," according to the World Gold Council, an industry body funded by major gold miners, which publishes widely cited quarterly data on global gold demand.This was the highest quarterly total since the end of 2024 and firmly above the five-year quarterly average of 227 tons.The People's Bank of China led gold purchases, followed by the National Bank of Poland.Year to date, global central banks and other official institutions have bought 675 tons of the precious metal, up 6 percent from the same period last year.As a result, the organization lifted its 2026 central bank demand forecast. The group now projects that these institutions will at ...
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