Central Bank Gold Withdrawals From BIS Most in at Least 8 Years
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Central banks withdrew about 632 metric tons of gold from deposits at the Bank for International Settlements in the year ended March 31, the most in at least eight years.
Gold deposits at the BIS fell to about 729 tons, from 1,360.7 tons the previous year, according to its annual report. That’s the most since the year ended March 2004, when the bank began stating gold deposits in millions of special drawing rights. This year’s withdrawal compares with a deposit increase of about 194.1 tons in the year ended March 2010, according to BIS reports.