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Central banks

Global Central Banks Tap Brakes on Gold Purchases as Prices Hit Records

Perth Mint Gold Scandal: Mint Regains Global Confidence
Perth Mint Gold Scandal: Mint Regains Global Confidence

Central banks worldwide added 12 metric tons of gold to their reserves in April, marking the second month in a row of reduced buying activity. This represents a 12% drop from March and falls below the 12-month average of 28 tons.

Poland’s National Bank continues to lead global gold purchases, while India’s Reserve Bank disclosed its gold storage locations. Despite the slowdown, which may be linked to gold’s recent price surge to record highs, experts caution against overinterpreting short-term data and expect central banks to maintain their gold-buying strategies amid ongoing economic and geopolitical uncertainties.

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