Central Banks Are Buying Up All The GOLD (RTD Quick Take)

Global central banks continued their net gold purchases in January 2023, adding another 31 tons to their reserves, a 16% increase from December 2022, according to the World Gold Council. The Central Bank of Turkey was the biggest buyer in 2022, adding 23 tons to its reserves in January, while China reported another 14.9-ton increase, adding to the 62 tons reported between November and December 2022. The World Gold Council projects that central banks will continue to buy gold in 2023, but the rate of buying may not match the record level of 2022.

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