Global central banks net bought 24 tn gold in February, says WGC
This story was originally published at 20:14 IST on 3 April 2025
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MUMBAI – Global central banks net bought 24 tonnes of gold in February, the World Gold Council said, citing data from the International Monetary Fund and other public data sources. Poland, China, Turkey and the Czech Republic have led gold demand from emerging market central banks.
"The year has had a decent start as central banks' appetite for gold continues to be robust," Marissa Salim, senior research lead, Asia-Pacific, World Gold Council, said.
The Central Bank of Poland was the biggest buyer in February at 29 tonnes. The People's Bank of China bought 5 tonnes in February, the fourth straight month of purchase. Gold reserves with the Chinese central bank climbed to 2,289.5 tonnes as of February, according to WGC.
Other major buyers in February were the Central Bank of the Republic of Turkey and the Central Bank of Turkey at 3 tonnes each. The Qatar Central Bank and the Czech National Bank bought 2 tonnes each, the council said.
The Central Bank of Uzbekistan sold 12 tonnes of gold in February and the National Bank of Kazakhstan offloaded 8 tonnes, according to the report. Despite net sales year-to-date, gold reserves form 54% of Kazakhstan's total reserves at 280 tonnes.
Global central banks cumulatively held 36,194.8 tonnes of gold reserves as of end of January. At 1930 IST, the June gold contract on the COMEX was $3,107.0 per ounce, down 1.9% from Wednesday's close. End
US$1 = INR 85.43
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Reported by Sandeep Sinha
Edited by Deepshikha Bhardwaj
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