Central banks' buying drives global gold demand growth: WGC

From xinhuanet.com

Net gold purchases by central banks saw a year-on-year increase of 68 percent to 145.5 tonnes in the first quarter of 2019, driving global gold demand growth, according to a report issued by the World Gold Council (WGC). During the last four quarters, central banks' gold buying reached a record high of 715.7 tonnes. In Q1 of 2019, global gold demand stood at 1,053.3 tonnes, up 7 percent year on year, according to the report. Economic uncertainty continued to weigh heavy on reserve managers' minds. Diversification and a desire for safe, liquid assets were the main drivers of gold buying, the WGC report said. As of ... (full story)