🚨🚨 Central banks are increasing their gold purchases 📢

Global central banks bought +53 tons of gold in October, the highest level since November 2024.

This represents an increase of +194% compared to July, and a third consecutive month of increases.

In the first ten months of the year, central banks purchased 254 tons of gold, putting them on track for a fourth highest annual purchase of this century.

The increase was led by the Polish National Bank, which returned to the market in October, purchasing 16 tons of gold.

This brought its reserves to a record level of 531 tons, or ~26% of its total foreign currency reserves.

Official gold demand from central banks is historically high 🔥📢

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