Over 40 tons of the precious metal were added to state reserves in October, according to the World Gold Council Central banks have continued their gold buying spree, with reported net monthly purchases totaling 42 tons in October, the World Gold Council (WGC) has revealed. According to a report published last week, the figure was 41% lower than September’s revised total of 72 tons, but still 23% above the January-September monthly average of 34 tons. The People’s Bank of China (PBoC) remained the largest bullion buyer, reporting purchases of 23 tons of gold in the 12th consecutive monthly addition to its reserves.
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