Central Bank Gold Sales Figures Contain No Surprises

Source:

Central Bank gold sales stand at 294 tonnes for this year - one tonne higher compared to same period last year, which resulted in negative supply to the gold market.

Central Bank gold sales stand at 294 tonnes for this year - one tonne higher compared to same period last year, which resulted in negative supply to the gold market.

Natalie Dempster, investment research manager at the World Gold Council (WGC), said the latest release of central bank sales figures held no surprises. On the gold purchase side, Qatar has made unexpected actual purchases of 7.7 tonnes this year to increase the gold in its reserves.

She said central bank gold sales were one of the largest factors in gold supply. Last year's sales of 395.8 tonnes contributed negatively to overall gold supply as it was below the 500 tonnes allocated for the year...

Dempster added that the latest figures are not expected to have an impact on the gold market as the central bank sales figures are released on a weekly basis and already known in the market.

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