Central banks of many countries around the world still made massive purchases of gold, adding to their reserves in July. Central banks bought a net 55 tons in July, according to Council data
In fact, there have always been speculations that China holds more gold than it officially discloses.
Besides China, another “power” that is also increasing gold purchases is türkiye.
According to statistics, the total amount of gold purchased by central banks in 2022 is 1,136 tons.
According to the 2023 central bank gold reserves survey recently released by the World Gold Council, 24% of central banks plan to add gold to their reserves in the next 12 months.