Global central banks made "significant purchases" of gold during the sharp price fluctuations in the first quarter

Jinse Finance reported that on April 29, global central banks increased their gold holdings in the first quarter at the fastest pace in more than a year, as a drop in gold prices triggered significant buying, offsetting the impact of sales by a few institutions. According to estimates from the World Gold Council, official sectors made a total net gold purchase of 244 tons in the first three months, up from 208 tons in the previous quarter. Poland, Uzbekistan, and China were the largest disclosed buyers, while some central banks’ gold purchases have not been made public. (Bloomberg)