RSS SubscribeCentral banks gold buys up at 20 tonnes in May, says WGC
By Subramani Ra Mancombu – BusinessLine
Gold purchases by central banks across the world increased to 20 tonnes in May from 16 tonnes in April. However, they were lower than the 12 months average of 27 tonnes, the World Gold Council (WGC) said.
“Fresh tensions in the Middle East may have reinforced the strategic appeal of gold for central banks looking to safeguard reserves against geopolitical shocks,” said Marissa Salim, Senior Research Lead, APAC.
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