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Central Bank Gold Buying Statistics: June 2024

 
Gold Statistics: June 2024 changes by country (photo credit: PR)
Gold Statistics: June 2024 changes by country
(photo credit: PR)

(World Gold Council) Central banks reported 12t of net buying in June via the IMF and other public data sources. Demand moderated during the month: monthly gross purchases of 31t were offset by gross sales of 18t.*

June highlights

  • 31t - Gross purchases
  • 18t - Gross sales
  • -7% - m/m net change
  • 36t - 12-month av
  Central Bank Gold Statistics: June 2024  (credit: PR)
Central Bank Gold Statistics: June 2024 (credit: PR)

June changes by country

Activity was once again led by emerging market central banks. The Central Bank of Uzbekistan and the Reserve Bank of India both added 9t to their gold reserves during the month. The Monetary Authority of Singapore was the largest seller (-12t) in June.

Year-to-date changes by country

Year-to-date gold changes by country (credit: PR)
Year-to-date gold changes by country (credit: PR)

Buying strength continues in 2024, although gross purchases and sales are lower compared to the same period last year. Emerging market banks are the main driving force for both purchases and sales.     *Data to June 2024 where available. Totals may not sum due to rounding. Excludes the State Oil Fund of Azerbaijan (SOFAZ), which only reports quarterly data. Note: By country and YTD charts include changes of a tonne or more only.

Source: IMF IFS, respective central banks, World Gold Council

This article is for informational purposes only. The opinions and analysis herein are those of the author and are not financial advice. The Jerusalem Post (JPost.com) does not endorse or recommend any investments based on this information. Investors should consider their financial situation, investment goals, and risk tolerance before making any decisions. Consulting a qualified financial advisor is recommended. JPost.com is not liable for any investment losses from using this information. The information provided is for educational purposes only and should not be considered as trading or investment advice.

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