World Gold Council: CBRT has been buying gold for 15 consecutive months

The Central Bank of the Republic of Turkey continued to increase its reserves by purchasing 22 tons of gold in February.

According to the latest data released by the World Gold Council, the intense interest of central banks in gold continued in February.

In the published report, it was stated that a net 52 tons more was added to the global gold reserves in February, and it was pointed out that the central banks increased their reserves for 11 months.

Since the beginning of the year, the total net purchases of central banks have reached the level of 125 tons.

The biggest buyer is China

The biggest buyer in February was the People’s Bank of China with 25 tons of purchases.

The CBRT added 22 tons to its reserves by purchasing gold for 15 consecutive months in February. According to the report, the CBRT has 587 tons of gold reserves, which corresponds to 33 percent of its national reserves, together with the latest purchases.

In addition, the Central Bank of Uzbekistan bought 8 tons, Singapore 7 tons and the Central Bank of India 3 tons, while the National Bank of Kazakhstan was the only net seller with 13 tons of net sales.