October data shows gold reserves held by central banks hit the highest level in 47 years

As is customary, central banks around the world are buying gold in large quantities, and in the first week of November, the World Gold Council reported that central banks bought a record amount of bullion, and WGC data indicated that Close to 400 tonnes of oil was pumped in by the central bank, which was the biggest margin of gold’s record-breaking earnings, where it was also seen that there was a mystery gold buyer during the third quarter, which was kept secret and that was China. Expresses skepticism of the resident while according to the report, according to the new data, during the month of October, banks around the world received 31 tonnes of gold and in the United Emirates alone, the most gold was bought in October, which was 9 tonnes of gold. . The data from WGC shows how it has bought 18 tons of gold during 2022 and the amount of gold bought by central banks in the world has reached the highest level in 47 years or since 1974 where we can see that It can be said that there has been a stock of precious metals for 7 consecutive months and Uzbekistan has bought 37 tonnes of gold this year, which is 60 percent of the country’s stock. It is pertinent to mention here that according to the data National Bank Bhav Cambodia nidhi.in succeeded in buying gold and in Kazakhstan gained three yellow teeth in October, apart from this the central bank acquired precious metals to bring wealth to foreign reserves. In short, it is believed that through gold reserves, the wound can be reduced because gold has been given a safe price for thousands of years and it is known as a safe asset. Where banks have the highest position in getting gold from mining companies around the world, gold is performing well during friends and on Wednesday, the price of 1 ounce gold will be trading at $ 1,778 per unit, the highest since November 3, 2022. Gold has gone up by 9 points 15 percent against the dollar and has gone from $ 1629 an ounce on Wednesday, December 7, 2022 to the current $ 1,778 an ounce.