Net Gold Purchases by Central Banks in August and Turkey's Move
Global central banks bought a net 39 tons of gold in August, while the Central Bank of the Republic of Turkey resumed purchases after 3 months.
According to World Gold Council data, global central banks purchased a net 39 tons of gold in August. The Central Bank of the Republic of Turkey, meanwhile, made a net purchase of 3 tons of gold in August following three months of net sales.
Global Gold Demand
According to World Gold Council data, global central banks purchased a net 39 tons of gold in August, bringing total purchases since the beginning of the year to 170 tons.
Turkey's Gold Reserves
The Central Bank of the Republic of Turkey added 3 tons of gold to its reserves in August, ending a three-month streak of net sales. Turkey's net sales from the beginning of the year through the end of August fell to 82 tons.
Purchases by China and Poland
The People's Bank of China increased its reserves by purchasing 20 tons of gold in August, while the National Bank of Poland maintained its position as the largest net buyer since the beginning of the year with an 8-ton purchase.
Status of Other Countries
Uzbekistan and Kazakhstan purchased 8 and 7 tons of gold respectively in August, while the Central Bank of Russia sold 6 tons of gold.