MUMBAI: Central banks around the world collectively, in November 2024, added 53 tonnes of gold to their reserves, of which the Reserve Bank of India's addition was 8 tonnes, the World Gold Council (WGC) said in a report on Monday.
In 2024, central banks mostly those from emerging markets - remained keen buyers of gold, driven by the need for a stable and secure asset amid global economic uncertainties.
Assessing the final act of 2024, central banks around the world continued to play a leading role in the demand for gold. November represented another solid month of gold buying as central banks collectively added a net 53 tonnes to global official holdings," WGC said in a report - Central bank gold statistics November 2024.
The gold price dip in November, following the US election, may have provided some central banks with added impetus to accumulate, WGC said.
WGC further noted that the Reserve Bank of India (RBI) continued with its 2024 buying streak, adding a further 8 tonnes to its gold reserves in November.
This story is from the January 07, 2025 edition of Millennium Post Kolkata.
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This story is from the January 07, 2025 edition of Millennium Post Kolkata.
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