Central banks become net gold sellers for first time in 10 years

Paxos

Central banks became net gold sellers in the third quarter of 2020 for the first time since 2010, the World Gold Council said today (October 29).

Overall, global official holdings declined by 12.1 tonnes, with the Central Bank of the Republic of Turkey and the Central Bank of the Republic of Uzbekistan leading global sales. The Turkish central bank reduced its gold reserves by 22.3 tonnes, while the net gold sales of Uzbekistan’s central bank reached 34.9 tonnes.

These operations have

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