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China Leads December Gold Purchases as Global Central Banks Scale Back

Central bank gold activity showed a notable shift in December 2024, with global institutions reporting 3 tonnes of net sales according to IMF and public data sources.

The month’s activity revealed a clear tapering in demand, with gross purchases of 13 tonnes being outweighed by 16 tonnes in sales. The People’s Bank of China maintained its buying streak with 10 tonnes, while smaller additions came from the Czech National Bank and Bank of Ghana at 1 tonne each.

However, Kazakhstan’s significant 11-tonne sale dominated the month’s transactions. Looking at the broader 2024 picture, while overall activity decreased compared to 2023, substantial acquisitions were made by Poland (90 tonnes), Turkey (75 tonnes), and India (73 tonnes), highlighting continued strategic importance of gold in central bank reserves.

Original Source: Gold.org

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