Recently, numerous central banks have purchased gold to build up their reserves. The World Gold Council's latest report lists the countries that have been particularly active in the gold market, over the past few months.
The updated list contains states that owned gold reserves as of September and October 2019. Russia leads with 2251.1 tons – 10.2 tons more than in the previous period. China's gold reserves remain unchanged at 1948.3 tons. In October, the PRC National Bank did not announce any gold purchases.
Germany's reserves decreased by 0.3 tons in October. This is so, due to the fact that the Bundesbank regularly sells small amounts of gold to the Ministry of Finance, which, in turn, mints commemorative gold coins with a nominal value of 100, 50 and 20 euro.
Turkey's gold reserves have grown to 398.2 tons, according to WGC – an increase of 12.7 tons. One should also consider the gold owned by commercial banks and stored by the central bank as collateral. At present, its amount is estimated at 537.81 tons. Serbia's reserves have increased by 9.3 tons, to a total of 30.4 tons. Uzbekistan bought 6.5 tons of gold and now owns 338.7 tons of the precious metal.
An interesting detail in the WGC report is that Australia's gold reserves are listed as 80 tons – same as at the start of the year. The Australian Reserve Bank keeps claiming that it hasn't sold any of its reserves, despite the fact that many finance media channels reported that the reserves went down to 68.74 tons.
According to the WGC, overall global gold reserves are now equal 34,500.85 tons, or 10.41 tons more than in the preceding month. We should point out that not all central banks report their gold reserves data. Some countries have never supplied this information at all: they include Iran, Israel and North Korea.
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