Central Banks Buy More Gold In 2018 Than Any Year Since 1967

February 1, 2019
Executive & Research Director @ GoldCore

– Central banks buy gold in largest buying spree in a half century

– 2nd largest year of gold purchases by banks on record – WGC

– Central banks bought more gold bullion last year than anytime since 1967, prior to the U.S. ending the gold standard in 1971

– Governments added 651.5 tonnes (metric) of gold to their foreign exchange reserves in 2018, a 74 percent increase from the previous year
– Surge in gold purchases by central banks and strong demand for gold coins and bars in Europe and Iran helped push global demand for gold up 4 percent last year

Source: World Gold Council

The Queen inspects a gold vault at the Bank of England

Source: World Gold Council

Central Banks Are on the Biggest Gold-Buying Spree in a Half Century (Bloomberg)

Central Banks Bought More Gold in 2018 Than Any Year Since 1967: WGC (Reuters)

Gold Demand Trends Full year and Q4 2018 (Full Report from World Gold Council here)


Mark O'Byrne is executive and research director of www.GoldCore.com which he founded in 2003. GoldCore have become one of the leading gold brokers in the world and have over 4,000 clients in over 40 countries and with over $200 million in assets under management and storage.We offer mass affluent, HNW, UHNW and institutional investors including family offices, gold, silver, platinum and palladium bullion in London, Zurich, Singapore, Hong Kong, Dubai and Perth. 

Gold is still being mined and refined at the rate of almost 2,600 tonnes per year.

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