Central banks shows interests in GOLD..

According to the International Gold Council, central banks are still very interested in gold at the start of 2023 after a year that established records (WGC).

According to a report released by WGC on Thursday, central banks purchased 31 tonnes of gold in January, a 16% monthly rise.

Krishan Gopaul, senior analyst at the WGC, stated that this was “comfortably within the 20-60t range of reported purchases” that had been in place for the previous ten consecutive months of net buying.

Three central banks—Turkey, China, and Kazakhstan—who are not new players, made up the majority of the purchases. China is believed to have aggressively increased its gold purchases toward the end of last year, while Turkey was the top official gold buyer in 2022.