Central Banks’ Gold-Buying Spree Continues for 11th Consecutive Month

Central Banks’ Gold-Buying Spree Continues for 11th Consecutive Month
Gold bars at Korea Gold Exchange in Seoul, South Korea, on Aug. 6, 2020. Kim Hong-Ji/Reuters
Andrew Moran
Updated:
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Global central bank gold reserves increased by an additional 52 tons in February, representing the 11th consecutive month of net purchases of the precious metal, new data show.

According to the latest figures from the World Gold Council (WGC), China was the biggest gold buyer in February, acquiring 24.9 tons. The People’s Bank of China has increased its gold holdings for four straight months, growing its reserves by roughly 102 tons.
Andrew Moran
Andrew Moran
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Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."
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