Value of central bank gold buying Q1 2024, by country
Turkey, China, and India had the highest demand for gold in the first quarter of 2024, as their purchases of gold greatly outweighed sales. Kazakhstan's net purchases also exceeded 10 tonnes. Gold demand from central banks worldwide was record high in 2022 and remained similarly high in 2023 as well. As of 2023, the countries with the highest gold reserves were the United States, Germany, and Italy.