CBRT bought 161 tons of gold in 1 year

Gold The Central Bank of the Republic of Turkey (CBRT), which has come to the forefront with its presence in recent years, became the second central bank to buy gold after China in February. The CBRT, which has been making uninterrupted purchases for 15 months, increased its gold reserves by 204.3 tons to 587.3 tons in said period. The purchase of gold in the last 12 months was 161.2 tons. The World Gold Council has released its official gold reserve data for February. Consequently, central banks around the world bought 52 tons of net gold. In February, the Central Bank of China was the central bank that increased its gold reserves the most with 24.9 tons. It was followed by the CBRT, chaired by Şahap Kavcıoğlu, with a purchase of 22.5 tons, Uzbekistan with a purchase of 8.1 tons, and the Central Bank of Singapore with a purchase of 6.8 tons.

RUSSIA NOT INCLUDED

In February, the Central Bank of Russia made a statement on its reserves for the first time in a year, announcing that its gold reserves increased by 31.1 tons compared to February of the previous year. However, the Gold Council indicated that it is not known in which months these purchases were made. Therefore, the increase in Russia is not included in the global calculation of global net purchases of 52 tons in February. Thus, the CBRT increased its gold reserves by 45.6 tons in the first two months of the year. The CBRT, which has been making net gold purchases for 15 consecutive months, finally sold 7.8 tons of gold in November 2021. With the February purchases, the CBRT’s total gold reserves reached a record level of 587, 3 tons.

reached the top in 2022

According to data from the World Gold Council, the US Federal Reserve has the largest gold reserves in the world with 8,133 tons. Germany follows with 3,355 tons. Central banks around the world bought 1,167 tons of net gold in 2022. Gold purchases by central banks increased 152 percent compared to the previous year, reaching the highest level since 1967. While banks World central banks almost rushed into gold, the CBRT became the central bank that bought the most gold in the world with 148 tons. In gold purchases, the CBRT was followed by China with 62 tons and the Egyptian central banks with 47 tons.