Global central banks boost gold reserves; RBI adds 5 tons in July

Global central banks boost gold reserves

By Poonam Behura Published Sept 6, 2024 CNBC-TV18.com

[{"selector":"#anim-8abb4a00-b5c9-4c44-8620-22a58115fe1a [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(30.147704957662043%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-c6a78ca4-ec28-409b-879b-f7b912086bef","keyframes":{"transform":["translate3d(119.60785%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2adce9e1-7f2c-4b36-96b2-4237245c21f2","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c3b084e0-bbf6-46bc-8d4b-b355e0d44ea9","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-668537a2-bb3f-4701-882d-740c39d6cc3b","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-8c90275a-f550-48fc-b8c3-dfa8dd0bb274","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] RBI ADDS 5 TONS OF GOLD India's central bank increased gold reserves to 846 tons in July.

[{"selector":"#anim-26379d7b-ea60-4b8d-889c-6a3757277597 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-f1b9b0f7-38b7-46ac-b4db-2a47c21216af","keyframes":{"transform":["translate3d(117.32027%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-dadd05d6-e066-4600-93c4-290cdbe6d851","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-753bccd8-2f7a-451a-8024-1ed02d05e75e","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-f459bf20-28fe-4bff-bd48-cd7fea8e0b77","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-bb3ab687-3cdd-45b2-b41e-dbfeb0d1c1d4","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] GOLD BUYING IN JULY SPIKES Global central banks purchased 37 tons of gold, up 206% month-on-month.

[{"selector":"#anim-6feed217-8adc-46d6-9f37-bd3d888889ec [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.514648210040342%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-578d7058-ee2a-42d2-a1c3-777258c402a6","keyframes":{"transform":["translate3d(115.68628%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-11ca6e12-dff3-4f5d-a8bd-df89c51c5d42","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e24a9894-6c64-436b-a52a-d092455fede1","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-48df5209-a62f-4ec0-9dde-8c4bf7e144f6","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-3f117849-c903-483d-9349-b8e5c6d02a86","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] RECORD H1 2024 Central banks acquired 483 tons of gold in the first half of 2024.

[{"selector":"#anim-9d817c82-d6d7-4cc9-92d4-05ae700108ab [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-9ceed6e0-2b14-40bc-b23c-e015c72270be","keyframes":{"transform":["translate3d(112.41831%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e52fbfba-e08b-46c1-84dc-d002a95a680a","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-48caf746-7ff8-425f-b19c-dd3921385f36","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-c0295bd3-6398-432d-b4a9-90ec53f93118","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-367d04dd-55b8-4bea-a6ac-fb787ea8d2b8","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] 2023 GOLD PURCHASES Central banks bought 1,037 tons of gold last year.

[{"selector":"#anim-f224f29d-3a24-4141-b2ca-298411db003d [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-25af358f-b3b8-4d1e-93d7-a0e06de4a487","keyframes":{"transform":["translate3d(115.68628%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-73b71381-f398-4b40-87c8-18a457cbcfd1","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6ad3b915-1578-4611-b7ca-535ee96eae0b","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-909c5682-895f-45ea-b7b2-c7c5e0f21004","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-e50cf490-2ec4-4ae0-b802-d8886ab34cec","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] 2022 RECORD Central banks set a record with 1,082 tons of gold bought in 2022.

[{"selector":"#anim-60e77866-19b7-4661-98da-d42bcde46daf [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(14.843749786673241%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-f7d17a6a-4815-49cf-8df3-707838cc5630","keyframes":{"transform":["translate3d(115.35948%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b64b17a8-ac14-4e7c-8e67-7d6a04e10d8a","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1c7b5226-9118-4344-a93c-f8d80288fbe9","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-44a42730-8611-4173-8a27-044a06409a2a","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-5ae726c5-e1f3-416a-9bf2-47ba7050162c","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] DIVERSIFYING RESERVES Central banks continue to increase gold holdings to reduce reliance on the US dollar.

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[{"selector":"#anim-5756839f-9a1f-4917-9547-6f190cd4f09e","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-db2586f0-fc9c-467a-bd83-817bce2fa65e","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Read Next Thanks For Reading! Thanks For Reading!