WGC report: RBI bought the most 27 tonnes of gold, total reserves now 882 tonnes
WGC report: China's central bank ranked fourth and Azerbaijan fifth in terms of buying gold. Kazakhstan's central bank bought gold for the first time in October after selling it for five consecutive months.
RBI bought the maximum gold as compared to other central banks worldwide in October 2024, i.e. 27 tonnes. After this, the total gold reserves of India have now increased to 882 tonnes. Out of this, 510 tonnes of gold is present in the country itself. According to the report released by the World Gold Council (WGC) on Thursday, central banks worldwide bought 60 tonnes of gold in October. In this case, Turkey's central bank stood second after RBI with 17 tonnes and Poland third with 8 tonnes. The special thing is that the central banks of India, Turkey, and Poland have a 60 percent share in the total global gold purchases.
According to the report, China's central bank was fourth and Azerbaijan fifth in terms of buying gold. Kazakhstan's central bank bought gold for the first time in October after selling it for five consecutive months.
According to WGC data based on the International Monetary Fund (IMF) monthly report, central banks of emerging countries have dominated gold purchases. RBI bought a total of 77 tonnes of gold from January to October this year. This is five times more than the same period last year. During this period, Turkey has increased its reserves by 72 tonnes and Poland by 62 tonnes.
According to the report, central banks of many countries including Singapore have sold gold in October. These also include Germany, Mongolia, Jordan, Thailand, and the Philippines.
