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Central Bank Gold Statistics: Central Banks Ramp Up Gold Buying In October
- Central banks bought 53 tonnes in October, up 36% from September.
- Total year-to-date central bank gold purchases reached 254 tonnes.
- Poland led October purchases as a key buyer for central banks.
- Buying in October shows continued diversification amid macro uncertainty.
- Brazil emerged as part of the buyer group driving October purchases.
- Year-to-date demand remains strong despite higher gold prices.
- Serbia plans to almost double gold reserves by 2030.
- Madagascar and South Korea expressed intentions to increase holdings.
- A survey shows 95% of central banks expect further accumulation.
- Overall October activity reinforces ongoing central bank demand for gold.
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