Page 38 - Bullion World Issue 4 August 2021

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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