Gold Reserves at World Central Banks Rebounded in 2021

The Q4 2021 purchases, at 48t, hit the lowest quarterly purchases since Q3 2010.

SEATTLE (Scrap Monster): The Gold Demand Trends Full Year 2021 Report published by the World Gold Council (WGC) suggests that gold purchases by world central banks rebounded during the year.

The net gold purchases by world central banks totalled 463t during the previous year. This marks significant rebound from the decade-low purchases of 255t recorded in 2020. The annual purchases skyrocketed by 82% year-on-year. Out of this, 324t were bought during the initial half of 2021, boosted by several large purchases. The purchases slowed down sharply to 139t in H2 2021. The Q4 2021 purchases, at 48t, hit the lowest quarterly purchases since Q3 2010.

According to WGC, notable buyers included developed market central banks. Thailand emerged as the largest buyer in 2021, lifting its total gold reserves by 90t to 244t. India added 77t to its gold reserves in 2021, recording the biggest increase since 2009. Hungary tripled its gold reserves over the year, adding 63t. Meantime, Uzbekistan and Kazakhstan added 30t and 15t respectively.

The notable sellers of gold reserves during the year were Kyrgyz Republic and Sri Lanka, which recorded sales of 7t and 4t respectively. Also, Germany and the UAE offloaded 3t and 2t respectively.

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