According to the World Gold Council’s (WGC) latest quarterly report, worldwide gold demand, excluding over-the-counter (OTC) markets, was 28% higher year-over-year. While demand jumped higher than last year in the third quarter, central bank gold buying tapped an all-time quarterly record in Q3 2022. The quarterly report indicates that the world’s central banks purchased close to 400 tons of gold and the WGC study says that it’s the “most on record.”
Q3 2022 Data Shows the World’s Central Banks Stacked Close to 400 Tons of Gold
On Nov. 1, 2022, the World Gold Council (WGC) published the organization’s “Gold Demand Trends Q3 2022” report, which highlights the current trends tethered to gold and the precious metal’s markets during the third quarter. WGC’s report, published on gold.org, says the third quarter was healthy and was driven by “stronger consumer and central bank buying.” WGC highlights that these factors helped year-to-date demand “recover to pre-C
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