Central banks add 23 net tonnes of gold in July with China and Poland leading purchases – World Gold Council - KITCO
Central banks add 23 net tonnes of gold in July with China and Poland leading purchases – World Gold Council - KITCO
Source: KITCO
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DW NOTE
Central banks bought 23 net tonnes of gold in July while the Strait of Hormuz remained blocked for its fifth consecutive month and oil supply sat 8 mb/d below normal. China and Poland led purchases — both holding dollar reserves that lose 3.5% annually to inflation while their alternative reserve asset trades at $4,539, down 14.7% from recent highs. Diversification is cheapest when you need it least.