Russia and China are known for regular purchases of gold for their reserves. But recently, more and more countries have been active in the gold market. As it became known recently, Uzbekistan sold 23 tons of yellow precious metals.
The World Gold Council (WGC) updated the information on the gold reserves of countries that own this precious metal. The data contains information as of June-July 2019. Two expected events occurred in the presented review: firstly, Russia's gold reserves grew by 12.2 tons to 2.219.2 tons. The fact is that the Central Bank of the Russian Federation for many years regularly buys gold for international reserves of the state. Secondly, China's official gold reserve is now 1.936.5 tons, which is 10 tons more than in the previous period. In addition to these two countries, other states have become buyers of gold.
Qatar has acquired 7.8 tons for reserves and now owns 39.1 tons of gold. Argentina, which is experiencing a serious economic crisis, increased its gold reserves by 6.8 tons to 61.7 tons. Turkey's gold reserves increased by 6.6 tons. Kazakhstan added 4.7 tons to its reserves, increasing its reserve to 380 tons. Mongolia boasts 20.1 tons of gold in reserves, which is 3.2 tons more than the previous reporting period.
Among the buyers of gold appeared one major seller - this is Uzbekistan. The gold reserves of this state decreased by 23.7 tons to 327.8 tons. This may be due to the fact that the state is in an economic and political crisis. It is worth saying that last month this country sold 12.2 tons of yellow precious metals from its reserves.
Tajikistan: +1.9 t.
Belarus: +1.5 t.
UAE: +1 t.
Albania: +0.5 t.
Kyrgyzstan: +0.4 t.
Serbia: +0.3 t.
Greece: +0.1 t.
Malta: +0.1 t.
Czech Republic: -0.1 t.
According to the World Gold Council, the world's official gold reserves increased by 330.7 tons to 34.407.58 tons. It should be emphasized that the WGC list contains information only for those countries that have sent data to the IMF over the past six months. However, some countries never report their gold reserves. These include Iran, Israel and North Korea.