Central bank gold purchases up 73% so far this year, says WGC

From miningweekly.com

Net gold purchases by central banks totalled 35.8 t in May, 27% lower month-on-month, but net purchases in the year to date, at 247.3 t, are 73% higher year-on-year, the World Gold Council (WGC) reports. WGC market intelligence director Alistair Hewitt on Monday pointed out that central banks in several emerging markets, including Russia, China, Turkey and Kazakhstan, continued to dominate buying, with those banks being “the four biggest buyers so far” this year.Kazakhstan’s central bank has bought in excess of 25 t of gold over the last six years, peaking last year at 50.6 t. To date this year, the bank has ... (full story)