BullionVault via flickr
This represents the biggest monthly rise in gold purchases this year, according to WGC analyst Krishan Gopaul.
The top gold-buying countries in October were Brazil, which acquired 16 tonnes, Poland with 15.6 tonnes (the largest buyer of the year), Uzbekistan (9.3 tonnes), Indonesia (3.9 tonnes), Turkey (3 tonnes), the Czech Republic (2.4 tonnes), Kyrgyzstan (1.7 tonnes), and Ghana (1 tonne).
Other countries that purchased gold saw increases of less than one tonne.
The only central bank that reported a reduction in its gold holdings during October was the Bank of Russia, which saw a decline of 0.1 million ounces. The WGC has converted this reduction into 3.1 tonnes of gold, although the format of the Central Bank's data usually makes it difficult to provide an exact estimate.
source: gold.org
The top gold-buying countries in October were Brazil, which acquired 16 tonnes, Poland with 15.6 tonnes (the largest buyer of the year), Uzbekistan (9.3 tonnes), Indonesia (3.9 tonnes), Turkey (3 tonnes), the Czech Republic (2.4 tonnes), Kyrgyzstan (1.7 tonnes), and Ghana (1 tonne).
Other countries that purchased gold saw increases of less than one tonne.
The only central bank that reported a reduction in its gold holdings during October was the Bank of Russia, which saw a decline of 0.1 million ounces. The WGC has converted this reduction into 3.1 tonnes of gold, although the format of the Central Bank's data usually makes it difficult to provide an exact estimate.
source: gold.org
