Central banks added 374.1 tonnes in the first six months, helping push total bullion demand to a three-year high, according to the World Gold Council.
SINGAPORE: A major gold-buying spree by central banks is likely to persist in the coming years, according to Australia & New Zealand Banking Group Ltd, which flagged the potential for further purchases by nations including China.
“In the current environment, where uncertainty in emerging-market currencies is high, we see good reason for countries like Russia, Turkey, Kazakhstan and China to continue to diversify their portfolios, ” ANZ said in a note.
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