The WGC announced the purchase of 15 tons of gold by world central banks in August
The central banks of the world purchased about 15 tons of gold for their reserves during August. This was announced on October 3 by the World Gold Council (WGC).
"Central banks added 15 tons to global gold reserves in August. <...> This generally corresponds to monthly net purchases from March to June," the release on the regulator's website says.
It is noted that this indicator indicates a return to active purchases after global gold reserves remained unchanged in July. The revised estimate for July showed an increase in reserves by 10 tons after the Central Bank of Indonesia announced the sale of 11 tons of gold.
The largest purchases in August were made by the central banks of Kazakhstan (+8 tons), as well as Bulgaria, Turkey, China, Uzbekistan and the Czech Republic — they increased their reserves by about 2 tons of gold, the WGC reports.
At the same time, according to the World Gold Council, the largest decrease in gold reserves was recorded in Russia and Indonesia, whose reserves decreased by 3 tons and 2 tons, respectively. In the case of the Russian Federation, the regulator attributes the reduction of reserves to the coin minting program.
On September 29, the price of gold futures updated its historical maximum, reaching $3,850 per troy ounce. Later, on October 2, the price per ounce of silver exceeded $48 for the first time since May 2, 2011. At the peak of trading, the price of silver was $48.01 per troy ounce.
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