Page 38 - Bullion World Issue 4 August 2021
P. 38

Bullion World | Issue 04 | August 2021






              The CNB has increased its

              foreign exchange reserves
              in gold to ten tonnes



              According to the portal, the   CNB's gold reserves to the level last held by the CNB in its foreign
              CNB started buying gold last   exchange reserves at the end of 2016.The CNB has previously
              June, when it purchased 1.2   announced that it will not buy gold due to the long-term increase in
              tonnes. At the beginning of   its importance in foreign exchange reserves, but to supplement the
              this year, it held 9.5 tonnes   decline following the issuance of gold coins. "The CNB's decision
              of yellow metal, which is   from 2019 to maintain a certain minimum amount of gold reserves
              comparable to what it last   to cover its needs applies. This is matched by ongoing small
              had in its safes in mid-2017.   purchases. However, it cannot be said that gold plays the role of
              At the beginning of 2020,   a significant investment asset for the CNB," a CNB spokeswoman
              the CNB had less than eight   told ČTK. Petra Vodstrčilová. She declined to comment on specific
              tonnes of gold in its foreign   purchases.
              exchange reserves. The
              March purchase increased the   Source: https://www.fxstreet.cz




                                              Global gold demand flat in Apr-

                                              June quarter at 955.1 tonne: WGC

                                              Even as there was a strong recovery in consumer demand, global gold demand was
                                              flat with a 1 per cent dip during the April-June quarter at 955.1 tonne compared to
                                              the same period in 2020, following modest inflows into ETFs, the World Gold Council
                                              (WGC) said in a report.

                                              Overall gold demand stood at 960.5 tonne during April-June quarter in 2020,
                                              according to the WGC’s ‘Gold Demand Trends Q2 2021’ report.

                                              Source: https://www.thestatesman.com

          Flows into global gold ETFs                             Switzerland accounts

          were mostly flat in June at                             for half of India’s gold
          2.9 tonne                                               imports in FY21


           Flows into global gold ETFs                            Swiss gold accounted for almost half of India’s imports of
           were mostly flat in June, with                         the yellow metal, at $16.3 billion, in 2020-21. India imported
           slight inflows of 2.9 tonne,                           gold worth $34.6 billion last fiscal against $28.2 billion in the
           worth $191 million.                                    previous year despite the raging Covid-19 pandemic.

           A report by World Gold                                 Among India’s top 10 import partners, inbound shipments
           Council (WGC) said that                                increased from Switzerland only in the last fiscal, up 7.8% to
           inflows into North American                            $18.2 billion, led by gold. Moreover, the European country
           and Asian funds were                                   replaced Saudi Arabia to become the fourth-largest import
           primarily offset by outflows                           partner of India while the West Asian country fell a rank.
           from European funds.
                                                                  Source: https://economictimes.indiatimes.com
           "Overall, the positive flows came in spite of significant gold
           price weakness in the latter half of the month on the heels of a
           relatively hawkish Federal Reserve (Fed) outlook, suggesting
           that investors may have taken advantage of the lower price level
           to gain long gold exposure," it said.

           Source: https://www.thestatesman.com

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