Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Commodities»After July hiatus, global central banks resume buying gold in August
    Commodities

    After July hiatus, global central banks resume buying gold in August

    October 4, 20253 Mins Read


    Central banks across the world returned to buy gold in August after keeping a low profile in July, the World Gold Council (WGC) said, quoting data from the International Monetary Fund (IMF) and respective banks. 

    They added a net 15 tonnes to global gold reserves. The purchases were in line with their monthly buys between March and June.

    However, the Central Bank of Russia sold three tonnes and Bank Indonesia two tonnes during the month. The Indonesian bank continued to offload its gold for the second consecutive month, following a sale of 11 tonnes in July. 

    “The reduction in Russian gold reserves is likely related to its coin-minting programme,” said Krishan Gopaul, senior analyst, EMEA (Europe, Middle East and Africa) at WGC said. The WGC lowered its initial July estimate of 10 tonnes purchase, after the Indonesian bank reported the sale.

    Tactical selling

    The council, representing global gold producers, said the recent rally in the precious metal’s price was a constraint on the level of buying by central banks. “It may be a factor in more tactical selling too,”Gopaul said. 

    However, the recent slowdown in buying by the banks does not “necessarily signal” that central banks as a whole are losing interest in the yellow metal. “In fact, recent developments show that central banks remain keen to continue increasing their exposure,” he said.

    Gold ended the week at $3,886.55 an ounce, near the record high of $3,897 registered earlier during the week. Gold December futures in the US ended at $3,908.90 an ounce.

    In India, gold (999 fineness) was quoted at ₹1,16,950 per 10 gm in the Mumbai spot market. On MCX, gold December futures ended at ₹1,18,100 per 10 gm. The precious metal’s current rally is attributed to haven demand due to the US government shutdown and rising expectations of a dovish stance by the Federal Reserve.

    Bulgarian move

    Gopaul said seven central banks bought one tonne or more in August, with the National Bank of Kazakhstan purchasing 8 tonnes. The Kazakh bank, which bought the precious metal for the sixth consecutive month, now holds 316 tonnes, up 32 tonnes since the beginning of this year. 

    Bulgaria’s monthly gold reserves, up by 2 tonnes in August, increased the most after 28 years, when it bought 8 tonnes in June 1997. The East European nation now holds 43 tonnes. 

    “In January 2026, Bulgaria will become the 21st member state of the eurozone and may transfer some gold to the ECB as part of the accession procedure,” he said.

    The Central Bank of Turkey, the People’s Bank of China, the Central Bank of Uzbekistan, the Czech National Bank, and the Bank of Ghana purchased two tonnes each in August. 

    Czech bank’s target

    With these buys, Turkey’s gold reserves are up at 639 tonnes, while China’s holdings are above 2,300 tonnes. Gold reserves in Uzbekistan are 366 tonnes, and in the Czech Republic, whose buying streak has continued for 30 months, 65 tonnes. 

    The WGC EMEA analyst said the Czech National Bank has set a target to hold 100 tonnes of gold reserves by December 2028. 

    Gopaul said the National Bank of Poland, the leading purchase of the yellow metal in 2025, raised its target in September for its gold share in global reserves to 30 per cent from 20 per cent. The bank has indicated that it will resume buying the precious metal actively. However, the scale and pace of purchases will depend on market conditions.

    Published on October 4, 2025



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    2025 Chemistry Nobel Goes to Molecular Sponges That Purify Water, Store Energy and Clean Up the Environment

    Commodities

    Mumbai Agricultural Produce Market Committee donates Rs 45 lakh to CM relief fund for Maharashtra’s flash flood affected areas | Mumbai News

    Commodities

    Here’s every metal album that’s ever gone to number one in the UK

    Commodities

    OSU agricultural economy professor cites ‘black swan’ events behind industry’s bailout need

    Commodities

    Cenovus Energy raises takeover offer for MEG Energy

    Commodities

    Groundbreaking metal-organic framework research wins Chemistry Nobel Prize 2025

    Commodities
    Leave A Reply Cancel Reply

    Top Picks
    Precious Metal

    Silver slips as US Dollar firms on strong PPI data

    Investments

    Global Investments rachète 300 000 actions -Le 21 janvier 2025 à 23:58

    Property

    Violet Manners Shares Her Favorite Historic Houses In The U.K.

    Editors Picks

    Michael Cooper Adds To Lakers-Celtics Rivalry While Accepting Jersey Retirement

    August 25, 2024

    3 stunning high-yield dividend stocks to consider buying in March 

    February 28, 2025

    United Utilities urge public not to flush period products

    September 16, 2025

    Russia Greenlights Crypto For Cross-Border Payments, Tightens Mining Rules

    July 30, 2024
    What's Hot

    SEI Investments Company : Oppenheimer toujours positif

    April 8, 2025

    Yellow Metal Falls Rs 800, Silver Down Rs 2000; Check Rates Across Cities | Savings and Investments News

    August 11, 2025

    An application to remove an agricultural occupancy condition on a Knighton cottage, has been supported by the town council

    July 1, 2025
    Our Picks

    Tazapay Lands Strategic Investments from Ripple and Circle, Signaling a New Era for Cross-Border Payments

    August 26, 2025

    Marco Santarelli, Author at Norada Real Estate Investments

    October 11, 2024

    UK house prices slump by £1,150 – but millions now ‘confused’ | Personal Finance | Finance

    June 6, 2025
    Weekly Top

    European Fintech Groups, Crowdfunding Advocates Send Letter To Policymakers Regarding Financial Data Access Regulation (FIDA)

    October 8, 2025

    Copper price hits new high after Teck cuts production forecast

    October 8, 2025

    Here’s every metal album that’s ever gone to number one in the UK

    October 8, 2025
    Editor's Pick

    Tabuk Agricultural Development nomme un conseiller financier pour une réduction de capital

    April 22, 2025

    Un FIP Silver en Normandie ? Les confidences d’Alexandre Maes

    January 20, 2025

    Fintech angel fund Rerail hits $20 million funding target

    October 14, 2024
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.