Central Banks Add 19 Tonnes of Gold as Russia Sells Off

Global central banks accelerated their gold purchases in February, with Poland, China, and several emerging markets leading the buying. The net addition to official reserves reached 19 tonnes, continuing a trend of diversification even as the pace of accumulation slowed slightly from the start of the year. Notably, Russia was a significant seller during the month. Meanwhile, central banks in Africa are also increasing their gold holdings as a strategic hedge, underscoring gold's enduring role in reserve management.