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Central Banks Ramp Up Gold Purchases Worldwide

Central Banks Ramp Up Gold Purchases Worldwide

In November 2024, global central banks added 53 tonnes of gold to their reserves, with India’s Reserve Bank contributing 8 tonnes, raising its year-to-date total to 73 tonnes. Poland led the month’s purchases with 21 tonnes, while the People’s Bank of China resumed buying with an addition of 5 tonnes. Amid economic uncertainties and a dip in gold prices post-U.S. elections, central banks are increasingly turning to gold for stability, although Singapore’s central bank notably sold 5 tonnes. Source and details of the news

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