Central banks remain net gold buyers in February despite rising geopolitical uncertainty

Analysts are paying close attention to Poland’s official gold reserves as the central bank has proposed monetizing them. Early last month, Glapiński proposed generating $13 billion through the potential sale of the country’s gold reserves to finance defense spending. He explained that the intention would be to make a profit and, with improved economic activity, repurchase the gold.

For the second time this year, the Central Bank of Uzbekistan bought 8 tonnes of gold in February, bringing its official reserves to 407 tonnes, or 88% of its total reserves.

Malaysia’s central bank also bought gold for the second time in as many months, increasing its official gold reserves by 2 tonnes.

Finally, Salim noted that China and the Czech Republic remained modest but consistent gold buyers in February.

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