gold bank building with a vault

Gold's Biggest Buyers: Central Banks Edition

1 minute read
Dec 11, 2020

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.

world gold council graph showing central banks' gold buying data 2020

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.