Central banks embark on Q1 gold buying spree: WGC

摘要

Global gold demand rose 7% in the first quarter as central banks, led by China and Russia, diversified their assets from the dollar, the World Gold Council said Thursday. WGC director of market intelligence Alistair Hewitt said several other banks also made significant additions to gold reserves in the first quarter. “A number of new central banks have started purchasing gold again, with Ecuador buying gold for the first time since 2014,” Hewitt said in a statement. “We expect this trend to continue this year as central banks increasingly look to diversify their reserves. We are expecting to see central banks buy 500-600 tons this year.”