World central banks buy record amount of gold

Data from the World Gold Council showed that the world’s central banks bought record amounts of gold, especially in the third quarter of this year.

The data of the Council indicate that the central banks of the countries have purchased about 700 tons of gold since January last year, of which 399 tons were in the third quarter of the year.

Gold demand rose 28% in the penultimate quarter of 2022, according to the council’s report.

The World Gold Council expects total investment to decline this year as strong retail buying offsets the drop in ETFs and reduced OTC demand.

Source: RIA Novosti