Central banks bought 60 tonnes of gold in October, the largest monthly net purchase so far in 2024. Meanwhile, China resumed gold purchases in November after a 6-month pause.

Central banks bought 60 tonnes of gold in October, the largest monthly net purchase so far in 2024. Meanwhile, China resumed gold purchases in November after a 6-month pause.

This year alone, India and Turkey have purchased 77 and 72 tonnes of gold.

Central banks have now purchased 694 tonnes of gold year-to-date, comparable to levels seen in 2022.

Why are central banks buying so much gold?

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