WGC: Central Bank Gold Buying Decelerated in April

SEATTLE (Scrap Monster): The World Gold Council (WGC) published central bank gold statistics for the month of April this year. The gold purchases by world’s central banks slowed during the month.

Statistics show that throughout the month, central banks all over the world increased their gold reserves by 12 tons. The amount of gold purchased fell 12% month over month and fell short of the 12-month average of 28 tons. The banks' gold holdings saw a drop for the second consecutive month.

ALSO READ:

WGC: Price Stability to Prompt Resurgence in Indian Gold Demand

WGC Global Gold ETF Inflows Hit Record in April 

The National Bank of Poland (NBP) remained the biggest gold buyer among central banks in April. The bank increased its gold reserves by 12 tonnes, bringing them to 509 tonnes overall. Since the beginning of this year, the nation's gold reserves have increased by 61 tonnes.

In April, the Czech National Bank added gold to its reserves for the 26th consecutive month, increasing them by an additional 3t. The gold reserves of the People's Bank of China rose by two tons. Two tonnes were added to the Turkish central bank's official holdings. In April 2024, the Central Bank of Jordan, the National Bank of Kazakhstan, and the National Bank of the Kyrgyz Republic all added one tonne to their gold holdings.

Conversely, throughout the month, the Central Bank of Uzbekistan's gold reserves decreased by 11 tons.