2023
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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RBI
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SBI
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ICICI
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PNB
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Detailed explanation-1: -In January-March 2023, the Monetary Authority of Singapore was the largest single buyer of gold after it added 69 tonnes to its gold reserves, the WGC said in its Gold Demand Trends Report for Q1 of calendar 2023.
Detailed explanation-2: -With 132.34 metric tonnes (MT) of gold purchase, RBI emerged as the largest buyer of the yellow metal among central banks between April 2020 and September 2022. Also, RBI was the top gold buyer among its peers in 2020 while it stood third in 2021.
Detailed explanation-3: -In this article Turkey bought 23 tonnes of gold in January, making it the biggest buyer of the precious metal among central banks globally over the period. The country now holds 565 tonnes of gold, the highest level on record, according to data from the World Gold Council.
Detailed explanation-4: -Russia. The Bank of Russia is the official central bank of the Russian Federation and owns 2, 301.64 MT of gold. Like France, Russia’s central bank has opted to store all its physical gold domestically.