Central Bank Demand Sample Clauses

Central Bank Demand. The Central Bank Demand for gold increased significantly in second quarter 2021 to 206.4 tonnes while the gold demand decreased substantially in fourth quarter 2021 to 47.7 tonnes. However, the y-o-y increase is still high at 82%. Central bank purchases were substantially weighted in the early months, 206.4 tonnes were purchased in the first quarter of FY2021 declining to 47.7 tonnes in the third quarter of FY2021. In Q1 2022, Central banks increased their worldwide gold holdings by 84 tonnes. A big number of emerging market central banks acquired gold, continuing a long-standing trend. However, buying was not just confined to emerging economies in FY 2021-22 as there was significant buying from developed country central banks. Venezuela central bank emerged as having the highest gold holdings as percentage of total reserves for the FY2021-22. India Central Bank increased its gold holdings from 6.86% in Q4’2021 to 7.77% in Q1’2022. The change in gold holdings is the consequence of Central banks’continued efforts to keep the Official Foreign Reserves portfolio well-diversified and robust in the face of changing economic and market conditions. Tonnes 100 80 60 20 Venezuela Portugal Kazakhstan USA Germany Italy France Uzbekistan Tajikistan Bolivia Countries Gold holdings(%)