The central bank said that it bought 2 tonnes of gold last month, according to updated reserve data. According to the World Gold Council, Singapore has been the second most active gold buyer this year, behind only China. Tuesday, Gopaul announced that Qatar increased its official gold reserves by 3 tonnes last month. "This lifts YTD net purchases to nearly 5 tonnes, taking total gold reserves to 97 tonnes," he said. In a recent interview with Kitco News, George Milling-Stanley, chief gold strategist at State Street Global Advisors, said that central bank gold demand will continue to provide solid support for the gold market.

Source: Libya Today August 31, 2023 15:15 UTC