The central banks of Kazakhstan and Uzbekistan each added 14 tonnes of gold in the third quarter, according to the World Gold Council's November 3 report.
The council estimated total central-bank demand at 321 tonnes. Disclosed net purchases accounted for 120 tonnes, with the difference reflecting estimated unreported activity.
Kazakhstan and Uzbekistan both produce gold domestically. The council highlighted the role of domestic purchasing programs in shaping reserve changes in gold-producing economies.