Central banks extend gold buying streak in January

Central bank gold demand picked up from where it left off in 2022 with the addition of 31 tonnes to the global gold reserves in January, the World Gold Council said on Thursday.

This total, which represents a 16% monthly increase, falls comfortably within the 20-to-60-tonne range of reported purchases that has been in place over the last 10 consecutive months of net buying, Krishan Gopaul, senior analyst, EMEA, noted.

Activity was relatively concentrated during the month, with only three banks accounting for gross purchases of 44 tonnes and one bank offsetting this with 12 tonnes of sales, WGC data show.

London-listed company KEFI Gold and Copper plc (LON:KEFI) is an exploration and development company focused on gold and copper deposits in the highly prospective Arabian-Nubian Shield. The Company operates in Ethiopia and Saudi Arabia with projects including Tulu Kapi project, Jibal Qutman EL and Hawiah.

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