According to the IMF, reported global central bank gold reserves remained virtually unchanged in March. Available data shows purchases almost perfectly offset sales, resulting in a net increase of 0.2 tonnes.
China reported its fifth consecutive increase to its gold reserves, adding 18 tonnes in March.
Singapore followed with a reported increase of 17t, bringing its total reserves to 222t – 45% higher than at the end of 2022. In addition, India and the Czech Republic reported a more modest 4- and 2-tonne increase, respectively.
Reported sales of gold in March were driven primarily by Türkiye (15 tonnes), 2 Uzbekistan (11 tonnes) and Kazakhstan (10 tonnes).
source: IMF IFS, respective central banks, World Gold Council
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