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Global central bank gold reserves remained flat in March 2023

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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