Central banks around the world buy gold Unprecedented levelsEspecially those coming from China, Turkey and India. This trend has accelerated. In order to diversify its currency holdings and reduce its dependence on the US dollar, it has increased its gold reserves over the past 13 years.
The World Gold Council (WGC) explained that the total amount of metal requested by central banks in 2022 and 2023 exceeded all annual totals since 1967 by 673 tons.
Countries that collect the most gold
The United States is, by far, the largest reservoir of gold in the world 8,133 tons.
Russia and China (America's main geopolitical rivals) have been the largest buyers of gold over the past two decades. The People's Bank of China was the largest buyer of gold last year, with 225 tons.
Seven of the largest countries in terms of gold reserves are also among these countries The 10 largest economies.
Central banks bought nearly 400 tons of gold during the third quarter of 2022
The following are concentrated in Europe; followed by Germany with 3,353 tons; Italy with 2452 tons, and France with 2437 tons.
Russia comes ahead of China with 2,333 and 2,192, respectively. The last places go to Switzerland (1040), Japan (847), India (801), the Netherlands (612), and Turkey (479).
Central banks bought nearly 400 tons of gold during the third quarter of 2022, representing…n a significant increase. The World Gold Council has been holding data on this sector since 2000, and this demand volume represents more than double the previous record recorded in the third quarter of 2018.
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