2024 Survey: Central Banks Ramp Up Gold Holdings in Response to Global Instability
The World Gold Council’s 2024 survey reveals that central banks plan to increase gold reserves due to geopolitical and financial uncertainties.
Over 80% of respondents expect global bullion holdings to rise. And 29% of central banks plan to boost their own reserves. This shift is driven by strategic rebalancing, domestic production, and concerns like crisis risks and inflation.
In 2023, central banks added 1,037 tonnes of gold, the second-highest annual purchase in history. Additionally, there is growing pessimism towards the U.S. dollar, with many central banks predicting a decline in its global reserve share due to its perceived weaponization and domestic U.S. issues.
Clever Robot News Desk 20th June 2024
