Central banks still buying Gold for reserves


NEW YORK (Scrap Register): Central banks will remain noted gold buyers in 2019, said Commerzbank in a snippet.

The World Gold Council has previously reported that official-sector buying in 2018 was the most in roughly half a century.

Commerzbank analysts citeed the latest data from the International Monetary Fund showing that a number of central banks were in the market again in February.

“Among them were the usual suspects like Kazakhstan, but also countries that rarely buy gold, such as Colombia and Qatar,” Commerzbank added.

The IMF figures show that India already topped up its gold holdings in January. After last year saw central banks buying large quantities of gold, they are also likely to account for a significant proportion of gold demand this year.

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