Gold Purchases
Central banks net bought 17 tn gold in March, says World Gold Council
This story was originally published at 13:52 IST on 5 May 2025
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MUMBAI – Central banks net bought 17 tonnes of gold in March, the World Gold Council said, citing data from the International Monetary Fund and other public sources. Gross purchases of 35 tonnes during the month March were partly offset by gross sales of 18 tonnes.
The Central Bank of Poland was the biggest buyer in March with a purchase of 16 tonnes. The People's Bank of China bought 3 tonnes, the fifth successive month of purchase. Gold reserves with the Chinese central bank climbed to 2,292.3 tonnes as of March, according to WGC.
"Poland is the largest reported net buyer in 2025 so far at 49 tonnes, followed by State Oil Fund of the Republic of Azerbaijan at 19 tonnes, and China at 13 tonnes," said Krishan Gopaul, senior analyst, EMEA at World Gold Council, and Marissa Salim, senior research lead, Asia-Pacific, World Gold Council.
Central Bank of Uzbekistan reported the largest net sale at 15 tonnes in the first quarter of 2025, followed by Monetary Authority of Singapore at 5 tonnes, National Bank of the Kyrgyz Republic at 4 tonnes, and the Central Bank of Russia at 3 tonnes, according to the report.
Other major buyers in March were the National Bank of Kazakhstan at 11 tonnes, Czech National Bank at 2 tonnes, and the Central Bank of Turkey at 1 tonne. the council said. The Central Bank of Uzbekistan offloaded 11 tonnes of gold in March, Monetary Authority of Singapore 5 tonnes, and the National Bank of the Kyrgyz Republic 2 tonnes.
Cumulatively, central banks held 36,233.9 tonnes of gold reserves as of end of February. At 1335 IST, the June gold contract on the COMEX was at $3,272.8 per ounce, up 0.9% from Friday's close. End
US$1 = INR 84.24
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Sandeep Sinha
Edited by Avishek Dutta
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