ING notes that central banks returned to net buying of Gold in April after March’s net sales, citing World Gold Council data. The bank highlights strong purchases by Poland, continued accumulation by the People’s Bank of China, and buying by the Czech Republic, while Russia remained a net seller, extending its multi‑month divestment of official Gold reserves.

Official sector buying returns

"In precious metals, gold saw central banks return to net buying in April, with purchases of around 17 tonnes following net sales in March, according to the World Gold Council."

"Poland remained the largest buyer, adding 14 tonnes and bringing year-to-date purchases to 45 tonnes."

"The People’s Bank of China extended its buying streak to 18 consecutive months, adding 8 tonnes - its largest increase since December 2024."

"The Czech Republic maintained its accumulation strategy, purchasing 3 tonnes in April and taking total additions to 8 tonnes so far this year."

"In contrast, Russia remained a net seller, reducing holdings by 6 tonnes in April. This marks a fourth consecutive month of net sales, with total divestment reaching 22 tonnes year to date."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)