The pace has slowed somewhat this year, but central banks are still buying gold, and the World Gold Council expects central bank demand to continue over the next 12 months.

In April, central banks globally added another net 31.6 tons of gold to their reserves, despite Russia following through on its commitment to suspend its buying program.

According to the World Gold Council, the lower rate of purchases was entirely expected given the strength of central bank buying both in 2018 and 2019.

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