Central banks buy more gold in January
Net accumulation follows dip seen in previous month
Net purchases of gold by central banks hit 18 tonnes in January, up from net sales of 3 tonnes recorded in December, according to data published by the World Gold Council (WGC).
Emerging market central banks led the accumulation of gold in their reserves with Uzbekistan, China and Kazakhstan emerging the top three buyers.
Gold holdings account for 82% of the Central Bank of Uzbekistan’s reserves with 391 tonnes. The central bank bought 8 tonnes in January.
The People’s Bank of China added 5 tonnes
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