Central banks reduces gold purchase 51%

Central banks reduces gold purchase 51%
  • Clock-gray 07:46
  • calendar-gray 10 November 2016

World central banks plan to increase gold reserves 56% in the next three years, World Gold Council reported.  


According to Council, 33% of regulators plan to keep gold reserve at the current level, 11% plan to reduce.


WGC reported that the central banks purchased 81,700 tonnes in the third quarter, down 51% from previous year.


The central banks that have been consistently active in the market in recent months are Russia (43.9t), China (15.2t) and Kazakhstan (10t).


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