Central bank Gold buying recovers in May – ING

Central banks added a net 20 tonnes of Gold to global Gold reserves in May, ING's commodity experts Ewa Manthey and Warren Patterson note.

Central Banks buy more Gold

"This is 66.7% higher than the previous month, but below the 12-month average of 27 tonnes, according to the World Gold Council. Kazakhstan remained the leading buyer in May. It bought 7 tonnes, taking its net purchases so far this year to more than 14 tonnes."

"This was followed by the National Bank of Poland and the Central Bank of Turkey with net purchases of 6 tonnes each, taking total net purchases to 67 tonnes and 15 tonnes, respectively, in the first five months of the year."