The world’s central banks are increasing their reserves… Details in 10 facts


Books – Islam Saeed

Sunday, December 3, 2023 at 03:00 AM

Central banks around the world continue to demand… Gold In 2023, gold trends for the third quarter of the current year 2023 as per the reports of the World Gold Council show that the demand for gold by banks has increased.

Central banks added 337 tonnes in the third quarter of 2023

The third largest buying level in the quarter reached by central banks

In the third quarter of 2022, banks bought a large amount of 459 tonnes of gold..

Since the beginning of 2023, demand by central banks has increased by more than 14%.

Total bank purchases of gold since the beginning of 2023 have reached a record high of 800 tonnes of gold.

Gold reserves reported by global central banks rose by a net 77 tonnes in September.

Central bank’s gold sale is only 1 ton.

– Fund outflows from gold investment funds continued in October, $2 billion

Since the beginning of the year, the funds’ investments have fallen 6%.

– Total cash outflows from gold-backed global investment funds have hit $13 billion since the start of the year



See also  Stock indices in the US were mixed at the end of today's session; The Dow Jones Industrial Average rose 0.04%.
  • Nadia Barnett

    "Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

    Related Posts

    • Economy
    • November 2, 2024
    • 72 views
    Emils Kerimovs on Wealthtech Revolution: Investing in the Middle East and Africa

    The wealth management landscape is undergoing a dramatic transformation, fueled by the rise of financial technology (fintech), according to fintech entrepreneur Emils Kerimovs. No longer exclusive to the ultra-wealthy, innovative…

    UAE Powering Gaming Boom in the Middle East

    The gaming industry in the Middle East is experiencing a growth spurt, with Saudi Arabia and the United Arab Emirates (UAE) among the countries attracting major investments. However, this digital…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    Free Job Posting Sites in the UAE: Perfect for Both Job Seekers and Recruiters

    Free Job Posting Sites in the UAE: Perfect for Both Job Seekers and Recruiters

    Yaroslav Bogdanov: Google in Dubai announced the launch of an artificial intelligence initiative for MENA countries

    Yaroslav Bogdanov: Google in Dubai announced the launch of an artificial intelligence initiative for MENA countries

    How to Choose the Right Mattress: Find the Best Fit for You

    How to Choose the Right Mattress: Find the Best Fit for You

    Emils Kerimovs on Wealthtech Revolution: Investing in the Middle East and Africa

    Emils Kerimovs on Wealthtech Revolution: Investing in the Middle East and Africa

    Forex Brokers Review: Is ITBFX A Safe Broker?

    Forex Brokers Review: Is ITBFX A Safe Broker?

    Best Kitchen Renovation Ideas to Upgrade Your Space

    Best Kitchen Renovation Ideas to Upgrade Your Space