The global gold reserve for July grew by 37 tonnes, up from 64 tonnes in June, according to the World Gold Council. Consequently, since the beginning of the year, the cumulative indicator has exceeded 300 tons.
The biggest buyer was Qatar's Central Bank, which added 15 tons of gold to its reserves in July. This is the largest monthly increase in the reserve in the history of the country. Now the country's gold reserve is 72 tons (10% of the total reserves), which is the highest in physical terms.
The Reserve Bank of India added 13 tonnes of gold to its gold reserves, the largest monthly acquisition since September 2021 (19 tonnes). Now the country's gold reserve has grown to 781 tons, an increase of 27 tons since the beginning of the year.
Turkey's central bank increased its gold reserve by 12 tons in July. This is quite consistent with the average monthly indicator this year. Since the beginning of the year, the total volume of purchases amounted to 75 tons. Now the country has 469 tons of gold in reserves, which is a 2-year high.
The Central Bank of Uzbekistan acquired another 9 tons of gold in July, that is, the same as in June. Moreover, in the first quarter, the country sold 25 tons of gold, so the total volume of purchases at the moment is 11 tons. In total, the country's gold reserve contains 373 tons of precious metal (61% of the total reserves).
The National Bank of Kazakhstan sold 11 tons of gold in July, bringing the cumulative sales figure to almost 30 tons. At the moment, 373 tons of precious metal are stored in the country, which is 64% of the total reserves.
In addition, it became known that the Central Bank of Venezuela sold 6 tons of precious metal in the first half of the year, so the total reserve is now 73 tons.