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Central banks show continued demand for gold in 2023, as per a recent report from the World Gold Council (WGC), which noted that the world’s central banks accumulated 31 tons of the precious metal in January. Turkey was the largest gold buyer, adding 23 tons to its central bank’s stash, while the People’s Bank of … Read more
Following the World Gold Council’s (WGC) third-quarter report that shows central banks purchased a record amount of gold, data released by the WGC shows that central banks are buying more gold during 2022’s fourth quarter. Statistics show that the gold held by the world’s central banks is at the highest level since 1974. Central Banks … Read more
During the first week of November, the World Gold Council’s (WGC) report that covered last quarter’s global gold demand noted that central banks worldwide purchased close to 400 tons of gold in Q3 2022. The study highlighted that it was the “most on record,” and the WGC researchers also spotted a “substantial estimate for unreported … Read more
According to the World Gold Council’s (WGC) latest quarterly report, worldwide gold demand, excluding over-the-counter (OTC) markets, was 28% higher year-over-year. While demand jumped higher than last year in the third quarter, central bank gold buying tapped an all-time quarterly record in Q3 2022. The quarterly report indicates that the world’s central banks purchased close … Read more
The World Gold Council’s (WGC) head of global sales and regional CEO, Joe Cavatoni, explained on Friday that he believes the gold industry will integrate with blockchain technology in order to “help the industry standardize reporting.” Cavatoni spoke about the London Bullion Market Association’s (LBMA) and WGC’s Gold Bar Integrity Programme (GBI) which aims to … Read more
In its attempt to relieve the pressure against the rupee, the Indian government announced on July 1 that it had hiked the duty on imported gold by five percentage points to 12.5%. However, there are fears the import duty hike will spur a resurgence in the smuggling of the commodity. India’s Worsening Trade Deficit Faced … Read more
The total quantity of gold held in reserves by central banks topped 36,000 tons for the first time since 1990, data from World Gold Council has shown. This increase follows growth in the banks’ reported holdings of the asset by 4,500 tons over the past decade. Dollar’s Decline a Boon for Gold The amount of … Read more
After a long break, monthly purchasing data shows that central banks are buying gold again. The World Gold Council says throughout March and April, the organization recorded a higher level of central bank monthly gold purchases and the latest data from May shows the exact same trend. Gold Rises After Data Shows Central Bank Gold … Read more
A few central banks have started selling tons of gold for the first time since 2010 in order to ease the financial suffering from the Covid-19 pandemic. At $1,875 per ounce, gold prices are down -9.63% since the commodity’s high of $2,075 on August 6. Even though gold has dropped significantly in value in contrast … Read more
The market cap of cryptocurrencies, the world’s fastest growing asset class, has surpassed $677 billion. And bitcoin itself has surged past the payment processing company Paypal and the fast food company McDonald’s. Still, it looks tiny compared to other global markets. Also Read: Chinese Bitcoin Mining Giant Bitmain Establishes Branch in Zug, Switzerland The site The … Read more
