Central Banks of different countries from around the world in the second quarter of 2021 were actively purchased by gold, having completed them their gold reserves, the World Gold Council (WGC) report, published on its website.
According to the organization, the main buyers of gold in April-June became central banks of developing countries, among which Thailand (bought 90.2 tons), Hungary (62 tons), Brazil (53.7 tons), India (29 tons) and Uzbekistan (25.5 tons).
According to the “Kommersant” of economists, the main motives of regulators were able to insure against growing inflation (especially in low interest rates on majority of most countries), as well as to diversify their own international reserves.
At the same time, some central banks, on the contrary, sold their gold reserves, however, in much smaller volumes. The Russian Central Bank sold metal for 3.1 tons, Bundsbank of Germany – 3.3 tons, Kazakhstan regulator – by 9.9 tons.
According to WGC, increased in the second quarter not only demand, but also the supply of gold is 13 percent, up to 1172 tons. It was mainly due to the increase in production.