Kazakhstan has become one of the largest buyers of gold in the world

World central banks in March, according to preliminary estimates of the World Gold Council (WGC), increased the volume of gold in gold and currency reserves by 15.7 tons. It is specified that purchases of 40.4 tons more than compensated for the sale of 24.7 tons.

"Uzbekistan turned out to be the biggest seller – 10.9 tons. Thailand has significantly reduced its reserves by 9.6 tons, but this is due to the transition to a different gold reporting format. Another major seller is Jordan – 3.7 tons. The biggest buyers were Turkey (14.1 tons), India (5.1), China (5), Kazakhstan, Singapore (4.5) and Russia (3.1)," the report said.

Also, in January-March, the State Oil Fund of Azerbaijan (DNFAR) increased gold reserves by three tons.

"This is not taken into account in the overall statistics, as it represents a quarterly figure, but it is noteworthy: this is the only sovereign fund that has reported gold purchases since the beginning of the year," WGC analyst Krishan Gopol noted in his review.