Tuesday, January 19, 2021

Tag: Central Banks Added 46 Tons of Gold to Reserves in March

Central Banks Added 46 Tons of Gold to Reserves in March

by Peter Schiff, Schiff Gold:

Central banks globally added another net 46.1 tons of gold to their reserves in March with the usual suspects making big purchases, according to the latest data released by the World Gold Council.

The pace of central bank purchases seems to be increasing, although a few banks are doing the bulk of the buying. Globally, central banks upped purchases in March by about 10 tons over February’s total, which was 33% higher than January’s buying.

On the year, central banks have added a net 110.6 tons of gold to their reserves. This is off the near-record pace of purchases last year.