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Central Banks Worldwide Make Large-Scale Gold Purchases: Net Buy of 244 Tons in Q1
Central banks around the world significantly increased their gold holdings in the first quarter of this year to hedge against gold price fluctuations.
According to data from the World Gold Council, official sector net purchases totaled 244 tons in the first three months, up from 208 tons in the previous quarter.
Poland, Uzbekistan, and China are the main buyers, with some gold purchases not publicly disclosed.
Active buying in the gold market reflects ongoing importance placed on gold reserves by central banks.