Gold's Biggest Buyers: Central Banks Edition
The latest data shows central banks' continued appetite for gold, with Uzbekistan, Turkey, the UAE, Qatar and India coming up as the biggest buyers in October.
The World Gold Council has just released its latest data on gold movement from central banks.
After two months of aggregated net sales, October marked a return to net purchases, with 25 tons of gold ventilated.
Here are October's biggest buyers:
Uzbekistan: 8 tons
Turkey: 7 tons
UAE: 6 tons
Qatar: 2 tons
India: 2 tons
This data is further confirming central banks' continued appetite for gold as a strategic asset, and it will be interesting to see where they will stand the end of the year.
