Daily Management Review

World's central banks buy 19.4 tons of gold in April


Central banks bought 19.4 tons of gold in April, according to the World Gold Council.

Andrzej Barabasz
Andrzej Barabasz
As a result, after selling precious metals in March, the world's central banks have resumed purchasing it. Then, on 9,4 tons, sales outpaced purchases.

Uzbekistan was the top gold buyer in April, replenishing its stocks with 8.7 tons. Turkey (5.6 tons) and Kazakhstan (5.3 tons) ranked third and fourth, respectively, in terms of monthly purchases. With 0.9 tons of gold sold, Germany was the most active seller. This number has been estimated to be roughly 0.1 tons or less by other suppliers.

Egypt and Turkey added the most gold to their reserves, with 44 tons and 36.9 tons, respectively.

The Central Banks of Kazakhstan and Uzbekistan were the most active sellers in the market this quarter, reducing their countries' gold stockpiles by 34.3 tons and 24.6 tons, respectively.

source: gold.org