https://www.engineeringnews.co.za

Central banks swing to net gold sales in November

Gold bars

Photo by Bloomberg

6th January 2022

By: Marleny Arnoldi

Online News Editor

     

Font size: - +

Global gold reserves fell by 21.5 t in November, marking the first monthly decline since January 2021 when central banks collectively sold a net 11.2 t.

The World Gold Council (WGC) explains that selling activity in November was dominated by four central banks, led by Uzbekistan selling 21.5 t, Turkey selling 7 t, Russia selling 3.1 t and Kyrgyz Republic disposing of 1.4 t.

Net purchases were observed from Kazakhstan, which bought 4.3 t; Poland, which added 3.4 t to its reserves; and India and Ireland, which bought 2.8 t and 0.7 t, respectively.

The council says that, despite the swing to net sales in November, central banks remain on track to be net buyers for the full 2021.

The WGC will publish its full-year findings in its 'Gold Demand Trends' report at the end of January.

 

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Airshrink - CiP
Airshrink - CiP

At Airshrink - CiP, we surpass customer expectations with innovative MV and LV cable accessories, including heat shrink joints, terminations,...

VISIT SHOWROOM 
AirNox Pty Ltd
AirNox Pty Ltd

AirNox (Pty) Ltd is a level 1 BBBEE manufacturer of complete AdBlue® solutions for operators of SCR diesel engines and AUS40 across South Africa...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.049 0.93s - 140pq - 2rq
Subscribe Now