Global central banks slowed gold purchases in February - WGC

The latest data from the World Gold Council (WGC) showed that the global central banks, barring the Chinese and Russian, slowed their gold purchases in February.

Key Points:

Combined global central banks’ gold purchases were up 25 tons in Feb against a 41 ton purchase in January.

China and Russia were the exceptions, who added 10 and 11 tons of the precious metal to their holdings, respectively, after a sharp run-up in purchases over the last ten years.

Turkey reduced gold reserves by 37 tons in February