Central Banks Turning to Gold Again, Bank of Thailand Buys 43.5 Tonnes in April
- Central Banks of the world are preparing for the Global Currency Reset. That is why they are accumulating gold!
- Central Banks Turning to Gold Again, Bank of Thailand Buys 43.5 Tonnes in April
by Neils Christensen, https://www.kitco.com/
(Kitco News) – After a relatively slow start to the year, central banks are taking an interest in gold, which could be an essential support for prices, according to analysts at Commerzbank. The German bank, quoting data from the International Monetary Fund, noted that the Bank of Thailand bought 43.5 tonnes of gold in April. Other central banks that added to their gold reserves last month included Uzbekistan, which bought 8.4 tonnes of gold, Kazakhstan, which increased its holding by 4.4 tons.
Commerzbank also noted that in March, India’s central bank bought 6.8 tonnes of gold and Cambodia’s central bank bought 5 tonnes of the precious metal. Central Banks’ renewed interest in gold comes after subdued activity in the first quarter. According to the World Gold Council (WGC), central banks bought 95.5 tonnes of gold between January and March, a decline of 23% compared to purchases made during the first quarter of 2020.