Peter's Blog

Central Bank Gold Demand in First Half of 2023 Was the Highest on Record

Despite significant selling by Turkey that slowed net central bank gold buying in the second quarter, central banks added a record amount of gold to their reserves through the first half of 2023.

Many Countries Bringing Their Gold Home for Safekeeping

In the wake of Western sanctions on Russia after the invasion of Ukraine, many central banks are bringing their gold home for safekeeping, according to an Invesco survey of central banks and sovereign wealth funds.

Eight Central Banks Increased Gold Holdings in May

Excluding another big sale by Turkey, central banks were net buyers of gold in May, according to the latest data compiled by the World Gold Council. Eight central banks added gold to their reserves in May with net purchases totaling 50 tons.

World Bank: Global Economic Growth Expected to Slow to 2008 Levels

Most people in the mainstream concede that the economy is heading for a recession, but the consensus seems to be that downturn will be short and shallow. Projections by the World Bank undercut that optimism. According to the World Bank, global growth in 2023 will slow to the lowest level since the 2008 financial crisis.

Big Sale By Turkey Dropped Global Central Bank Gold Reserves for First Time in a Year

A large sale by Turkey in April caused global central bank reserves to fall for the first time in over a year, even as central bank gold buying continued. Official global reserves dropped by 71 tons in April, according to the latest data collected by the World Gold Council.

Nearly One-Quarter of Central Banks Plan to Buy More Gold in Next 12 Months

Over the last several years, central banks globally have added gold to their reserves at a historically high rate. It doesn’t appear the buying spree will end anytime soon. According to the World Gold Council 2023 Central Bank Gold Reserve survey, 24% of central banks plan to add more gold to their reserves in the […]

Who Has the Gold?

Which countries hold the most gold? Central banks around the world have been piling up gold. After a record-setting 2022, central bank gold reserves increased by 228 tons through the first three months of 2023, a Q1 record. This was 38% higher than the previous first-quarter record set in 2013.

Central Bank Gold Buying Sets First Quarter Record

After a record-setting 2022, central banks continued to buy gold in the first quarter of 2023, setting a new Q1 record. Overall, global central bank gold reserves increased by 228 tons through the first three months of 2023. This was 38% higher than the previous first-quarter record set in 2013.

Central Bank Gold Buying Shows No Sign of Slowing Down

There’s no sign of a slowdown in central bank gold buying. In February, central bank gold reserves rose by another 52 tons, according to the latest data compiled by the World Gold Council. It was the 11th straight month of central bank net gold purchases.

Will Central Bank Gold Buying Continue?

Central banks have been gobbling up gold. On net, central banks bought 1,136 tons of gold in 2022. It was the highest level of net purchases on record dating back to 1950 and the 13th straight year of net gold purchases. The question is will central banks continue to have an appetite for gold through […]