Central bank demand for gold remained robust in July, World Gold Council says – The National

Central bank demand for gold remained robust in July, World Gold Council says – The National

Central banks’ appetite for buying gold remained robust in July, as global reserves increased by a net 37 tonnes, the World Gold Council (WGC) reported.

The net increase in July was below the 64-tonne rise recorded in June. However, added to the 270 tonnes of net purchases by central banks over the first six months of the year, this pushes the year-to-date central bank demand towards the 300-tonne mark, said Krishan Gopaul, senior analyst for Europe, the Middle East and Africa at WGC.

“Few central banks were active during the month, but those that were, acted with purpose,” Mr Gopaul said.