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WGC: Central Bank Net Gold Purchases Up 42% YoY to 321 Tonnes in 3Q, Highest Quarterly Lv. since 4Q24
2026-11-03 14:45:31 The World Gold Council (WGC) report stated that central banks purchased gold at the fastest pace in 3Q26 since 4Q24, with net purchases reaching 321 tonnes, up 42% YoY. Estimated purchases for the year to date reached 675 tonnes, slightly above the same period last year. Since the outbreak of the Iran war at the end of February, gold prices have fallen by about one quarter as rising energy costs intensified market expectations for tighter monetary policy. John Reade, Senior Market Strategist at the WGC, said weaker gold prices in 3Q may have encouraged some central banks to step up purchases. For some central banks bearish on the USD outlook, the rebound of the USD may have increased the appeal of shifting foreign exchange reserves into gold. ~ AASTOCKS Financial News Website: www.aastocks.com | |