Global Central Banks Add 20 Tonnes to Gold Reserves in May
Global official gold reserves saw a net increase of 20 tonnes in May, according to the latest data from the World Gold Council (WGC). While this marks a modest rise compared to April, it remains below the 12-month average monthly purchase of 27 tonnes.
Kazakhstan Leads Central Bank Gold Purchases
The National Bank of Kazakhstan topped the list of buyers in May, adding 7 tonnes of gold to its reserves, bringing its total holdings to 299 tonnes—an increase of 15 tonnes since the beginning of the year.
The Turkish central bank and Poland's national bank also recorded net purchases of 6 tonnes each. Poland has now bought a total of 67 tonnes in 2025, making it the largest net buyer of gold among central banks so far this year.
Other notable buyers in May include:
The People's Bank of China and the Czech National Bank, each adding 2 tonnes.
The central banks of Kyrgyzstan, Cambodia, the Philippines, and Ghana, each adding 1 tonne.
Singapore and Uzbekistan Lead Gold Sales
On the other hand, the Monetary Authority of Singapore was the largest seller in May, reducing its gold reserves by 5 tonnes. It was followed by Uzbekistan and Germany's Bundesbank, both selling 1 tonne.
On a year-to-date basis, Uzbekistan remains the largest net seller with 27 tonnes sold, followed by Singapore with 10 tonnes.
2025 Survey: Central Banks Increasingly Bullish on Gold
The World Gold Council's 2025 Central Bank Gold Reserves Survey revealed a significant shift in sentiment among central banks:
95% of respondents expect global official gold reserves to rise over the next 12 months, up from 81% in last year's survey.
43% plan to increase their own gold reserves—the highest level ever recorded, compared to 29% in 2024.
A record 73 central banks participated in the survey, highlighting growing interest in managing gold as a strategic reserve asset.
76% expect gold to account for a larger share of their reserves in the next five years.
73% anticipate a decline in the U.S. dollar's share of reserves.
A Structural Shift in Reserve Management
This shift reflects a reassessment of gold's role as a safe-haven asset and hedge against inflation and geopolitical risk—particularly amid ongoing tensions in the Middle East, which have increased gold's strategic appeal to monetary policymakers.
Additionally, the rise in the number of central banks actively managing their gold holdings (44% in 2025, up from 37% in 2024) indicates a trend toward more professionalized reserve management strategies.
read more
CBE: Deposits in Local Currency Hit EGP 5.25 Trillion
Morocco Plans to Spend $1 Billion to Mitigate Drought Effect
Gov't Approves Final Version of State Ownership Policy Document
Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister
Qatar Agrees to Supply Germany with LNG for 15 Years
Business
Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves
Business
Suez Canal Records $704 Million, Historically Highest Monthly Revenue
Business
Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday
Business
Wheat delivery season commences on April 15
News
China Launches Largest Ever Aircraft Carrier
Sports
Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer
Videos & Features
Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall
Lifestyle
Get to Know 2025 Eid Al Adha Prayer Times in Egypt
Business
Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War
News
Flights suspended at Port Sudan Airport after Drone Attacks
Videos & Features
Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream
News
Shell Unveils Cost-Cutting, LNG Growth Plan
Technology
50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean
News
"Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence"
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
See - Sada Elbalad
an hour ago
- See - Sada Elbalad
Russia Slashes Wheat Export Tax to Zero
Taarek Refaat Russia, the world's top wheat exporter, has eliminated its wheat export tax for the first time since the levy was introduced in 2021, according to a statement reported by Interfax citing the Russian Ministry of Agriculture. The decision will take effect on July 9, marking a significant shift in Moscow's approach to balancing domestic supply and export competitiveness. The export tax, originally designed to stabilize domestic food prices and prevent excessive overseas shipments, had been a source of ongoing friction between the government and Russian grain producers. The removal of the tax comes amid rising global wheat prices and growing expectations of tighter supply in the months ahead. Under the current mechanism, the export tax is calculated weekly and is based on 70% of the difference between a reference price—derived from actual export contract data—and a base price set by the Ministry. The higher the base price, the lower the resulting export tax. For the latest calculation, the reference price was set at \$228.70 per ton, effectively bringing the tax rate down to zero. This is a stark contrast to earlier this year, when the tax peaked at 4,699.6 rubles (approximately \$59.87) per ton in January—an all-time high that stirred discontent among farmers. Russian wheat producers have long urged the government to cancel or reduce the levy, arguing that it cuts into their profit margins and only a small fraction of the revenue collected is reinvested into the agricultural sector. The move is likely to boost the competitiveness of Russian wheat on the international market, particularly as countries across Africa, the Middle East, and Asia continue to rely on Russian grain to meet their food security needs. With harvest season underway and geopolitical tensions still influencing global commodity markets, Russia's latest policy shift could significantly influence global grain trade dynamics in the second half of 2025. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War News Flights suspended at Port Sudan Airport after Drone Attacks News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean
See - Sada Elbalad
10 hours ago
- See - Sada Elbalad
Trump Welcomes Hamas's "Positive" Response to Gaza Ceasefire Proposal
Nada Mustafa U.S. President Donald Trump said it was "a good thing" that Hamas had responded "positively" to a proposed ceasefire in the Gaza Strip. Speaking to reporters aboard Air Force One, Trump stated, "There could be a deal on Gaza within days." However, U.S. President noted, "I haven't been briefed on the details" of Hamas's response. Trump added, "We have to do something about Gaza. We send a lot of money and a lot of aid." Hamas announced yesterday in a statement that it had completed internal consultations regarding the latest ceasefire proposal put forward by mediators. The movement confirmed that it had submitted its response to the mediators and described the reply as positive. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War News Flights suspended at Port Sudan Airport after Drone Attacks News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean
See - Sada Elbalad
15 hours ago
- See - Sada Elbalad
Egypt Climbs 8 Spots in UN Human Development Index Over a Decade
H-Tayea Egypt has advanced eight positions in the United Nations Human Development Index (HDI) over the past ten years, according to a report released by the Cabinet's Information and Decision Support Center (IDSC). The progress reflects the government's ongoing efforts to invest in human capital as a cornerstone for building a prosperous and sustainable economy. Over the past decade, Egypt has implemented numerous programs, initiatives, and projects aimed at improving the living standards of its citizens. The report highlighted that these efforts have led to positive transformations across various sectors of human development, including education, healthcare, and income levels, contributing to Egypt's notable improvement in the global HDI rankings. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War News Flights suspended at Port Sudan Airport after Drone Attacks News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean
