2022 was record year for central bank gold buying, WGC confirms gold
, the WGC confirmed that this level of purchase was indeed the most in any year dating back to 1950, and the 13th consecutive year of net inflows.As disclosed earlier, central bank purchases in the fourth quarter were 417 tonnes, which almost matched the entire 2021 totals . Like the third quarter, the final quarter of the year was a combination of reported purchases and a substantial estimate for unreported buying.
“This is a continuation of a trend,” said WGC analyst Krishan Gopaul. “You can see those drivers feeding into what happened last year. You had on the geopolitical front and the macroeconomic front a lot of uncertainty and volatility.” Banks including those of Turkey, China, Egypt and Qatar said they bought gold last year. But around two-thirds of the gold bought by central banks last year was not reported publicly, the WGC said.
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