At the end of March, global central banks increased the amount of gold in their reserves by a total of 15.7 tons. This is proven by preliminary preparations data World Gold Council (WGC).
According to the report, world central banks bought 40.4 tons of gold and sold 24.7 tons of gold in the first month of spring.
Uzbekistan became the largest metal seller. In March, the country reduced its reserves by 10.9 tons. Thailand’s gold and foreign exchange reserves decreased by 9.6 tons, and Jordan’s by 3.7 tons.
Türkiye was the main buyer of gold. At the end of March, Ankara purchased 14.1 tons of this metal. The leaders were also India (5.1 tonnes), China (5 tonnes), Kazakhstan and Singapore (4.5 tonnes each) and Russia (3.1 tonnes).
Price of gold at the beginning of the week fallen It is below $2,320 per ounce with expectations that the Fed will make tough decisions. On Friday evening, the price of the metal on the stock exchange fell to $ 2,290 per ounce.
Previously expert guess Record gold prices in the USA due to inflation.
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Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.