Central bank gold purchases rise in May
WGC says net purchases hit 20 tonnes as appetite among monetary authorities remains strong
Demand for gold from central banks saw a modest rebound in May, according to the latest data from the World Gold Council (WGC).
Net purchases for the month totalled 20 tonnes – more than the 12 tonnes recorded in April, and a figure the council said was close to the 12-month average of 27 tonnes.
The National Bank of Kazakhstan led the buying with a seven tonne addition to its reserves. This was followed closely by the central banks of Turkey and Poland, both of which added six tonnes.
At the other
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