This week’s Chart of the Week, shows that Central bank buying hit all-time highs as they bought almost 400t of gold in Q3 2022, as 115% increase q-o-q. This is the largest single quarter of demand from this sector going back to 2000 and almost double the previous record of 241t in Q3 2018. Among the biggest buyers were Turkey, Uzbekistan and Qatar.

The continued trend of official sector demand for gold corroborates findings from the World Gold Council’s 2022 annual central bank survey, in which one-quarter of respondents stated their intention to increase gold reserves in the next 12 months (up from one-fifth in in 2021). 

Central Bank Gold Demand Trends | Chart of the Week - BullionBuzz - Nick's Top Six

Sources: World Gold Council; BMG Group Inc.

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