#BeYourOwnCentralBank Nai has over 20 years of experience as an active trader and is a former Wall Street institutional stockbroker. He offers a wealth of knowledge and insights into the financial markets.
Central banks continued to buy gold in May, but the pace slowed moderately with China at least temporarily out of the picture. Central banks added a net 10 tons of gold in May, according to the latest data compiled by the World Gold Council. Central banks bought 23 tons of gold, offset by 13 tons in gross sales. The National Bank of Poland was the biggest gold purchaser in May, adding 10 tons of gold to its reserves. Poland was the second-biggest gold buyer in 2023. The Polish central bank bought 130 tons of gold last year, increasing its holdings by 57 percent, to 359 tons. In 2021, Bank of Poland President Adam Glapiński announced a plan to expand the country’s gold reserves by 100 tons. The central bank reached that goal in September of '23 and kept buying. When he announced the plan to expand its gold reserves, Glapiński said holding gold was a matter of financial security and stability. Michael Maharrey Money Metals Exchange World Gold Council #gold #BRICS #economics #money #banks
