Central Bank Gold Sales Hit Record 102 Tons in March

Central bank gold sales reached 102 tons in March, the highest level of the 21st century, corresponding to a value of approximately $16 billion. The increase in sales was driven by the Central Bank of the Republic of Turkey (TCMB) using its reserves to support the Turkish lira. In global markets, outflows from gold-backed exchange-traded funds (ETFs) accelerated. Changes in investor risk appetite and a shift toward alternative assets were among the main factors triggering ETF outflows. Meanwhile, the central banks of China and Poland viewed the decline in gold prices as a buying opportunity. These countries continued to add gold to their reserves, taking advantage of lower prices. Experts note that this divergence in central bank gold policies stems from global economic uncertainties and differing monetary policies. Reserve diversification strategies, particularly among emerging economies, continue to shape gold demand. This is not investment advice.