Central Banks Extend Their Buying Spree Beyond Summer, Continuing Through October

In October, central banks globally added a net total of 42 tonnes to their gold reserves, continuing a robust buying trend. The People’s Bank of China was the largest buyer, significantly increasing its reserves, followed by the Central Bank of Turkey and the National Bank of Poland. Despite higher sales volumes from countries like Uzbekistan and Kazakhstan, the overall trend of strong central bank gold buying remains unaltered, reinforcing gold’s positive outlook in the global market.