Poland leads June purchases as central banks turn hawkish on gold again

The Polish Central bank bought 95 tonnes of the metal that month, China 10 tonnes.

Global central banks turned big buyers in the month of June also with the Polish Central Bank buying 95 tonnes, one of the highest monthly purchase in recent years. China purchased 10.3 tonnes. Poland made its purchases public last week while China made an announcement today.

Although data on total gold purchases by global central banks in June are not available, the price of the metal went up over 11 per cent in the international market to trade above $1,420 per ounce, indicating that Central bank’s interest was a major important factor among other buyers.

According to the Polish announcement,