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SOURCE-BACKED ANSWER · EN

Was Japan’s March 2021 gold-reserve increase a new market purchase?

TL;DRWGC’s Q1 2021 report attributes the 80.8-tonne increase to an off-market transfer between Ministry of Finance divisions, facilitated by the central bank. WGC excluded it from new central-bank net demand.

Source as of 2021-03-31 · Source check 2026-10-25 · ภาษาไทย

Dated source reference; not a live quote.

Facts and sources

Historical reserve change
80.8 tonnes in March 2021, an intergovernmental transfer.Source: World Gold Council, GDT Q1 2021 · As of: 2021-03-31

FAQ

Does every reserve increase mean new market demand?
No. This example arose from an internal transfer.
Does the event prove continuing purchases in 2026?
No. It is a specific March 2021 event.

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