Global central banks reduced purchases of gold in the third quarter – Kommersant

Today the World Gold Council (WGC) published another report on the production and purchase of gold in the world based on the results of the third quarter. Central banks reportedly purchased a total of 337.1 tonnes of gold in the third quarter, down 27% from the third quarter of last year. Then, amid growing geopolitical tensions, central banks purchased a record 458.8 tons of gold. After this, volumes began to gradually decline – 382 tons in the fourth quarter, 287 tons in the first quarter and 174.8 tons in the second quarter of this year.

As a result, since the beginning of 2023, central banks around the world have purchased about 800 tons of gold, which was the maximum figure for the first nine months of the year since 2000, when the WGC began publishing such statistics. “The mood for gold purchases by central banks is likely to continue until the end of the year,” the WGC report says. More active In total, this year the Central Bank of the People’s Republic of China purchases gold – 181 tons. The Central Bank of Poland is in second place in gold purchases this year with 57 tons, and the Central Bank of Turkey is in third place with 39 tons.

Evgeny Khvostik