World Gold Council: Central Banks Stay Bullish on Bullion in January
Article by Marissa Salim in World Gold Council
Central banks continued their strong interest for gold in January with reported net purchases of 18 tons. The sustained buying highlights the strategic importance of gold in official reserves, particularly as central banks navigate heightened geopolitical risks.
- The Central Bank of Uzbekistan reported 8t net purchases in January, with its gold holdings totaling 391 tons or 82% of its reserves.
- Sustained appetite at the People’s Bank of China (PBoC), with the central bank reporting its third consecutive month of net buying, adding 5 tons in January. The PBoC’s gold holdings rose to 2,285 tons, or 6% of total reserves, at the end of January.
The National Bank of Kazakhstan (NBK) added 4 tons of gold to its reserves. At a press briefing on 17 January 2025, NBK Chairman Timur Suleimenov said that the central bank has “been discussing transitioning to monetary neutrality in gold purchases”, with the aim of boosting international reserves and .....