Global Central Banks Add 39 Net Tonnes of Gold in August, WGC Data Shows

Global central banks added a net total of 39 tonnes of gold to official reserves in August, lifting year-to-date net purchases to 170 tonnes, according to World Gold Council data. The People's Bank of China led the acquisitions by adding 20 tonnes, extending its buying streak to 22 consecutive months and bringing its official holdings to 2,387 tonnes. The National Bank of Poland and the Central Bank of Uzbekistan each bought 8 tonnes, while Turkey added 3 tonnes. Russia was the largest net seller during the month, offloading 6 tonnes to reduce its reserves to 2,271 tonnes.