The World Gold Council said that global central banks added 31 tons of gold to their international reserves last October, to rise to their highest levels since 1974.
The Gold Council stated in its monthly report, today, Sunday, that central banks maintained their appetite and raised their holdings to 36,782 tons last October.
World official gold reserves are currently at their highest level since November 1974.
According to the report, gold purchases were limited to a number of central banks last October.
Turkey is the largest buyer throughout the year
Turkey's central bank, the largest global buyer of gold throughout the year, bought another 9 tons of gold last October.
The total net purchases of the Turkish Central Bank on an annual basis rise to 103 tons, which is the highest level of purchase since 2019 when it bought 126 tons, with reserves at 498 tons.
The UAE Central Bank was the largest buyer last October, adding just over 9 tons to its gold reserves, bringing its net purchases over the year to 18 tons.
The Central Bank of the Republic of Uzbekistan bought another 9 tons of gold during the month, which is the same amount for the fifth consecutive month.
For its part, the Central Bank of Kazakhstan added 3 tons, while banks in India and Qatar added 1 ton each.
America first
The United States maintains the top of the list with about 8133 tons.
Germany again with 3355 tons.
The Monetary Fund third, with 2814 tons.
Then Italy is in fourth place with 2451 tons.
It is followed by France in fifth place with 2436 tons.
The World Gold Council has monitored the reserves of central banks every month since 2000, according to official data issued by these banks.
The World Gold Council is an organization working to develop the gold industry market, and aims to stimulate and sustain global demand for the yellow metal.