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Central Banks' Appetite for Gold Hasn't Been Satisfied

From moneymetals.com

Central banks have been gobbling up gold, and based on responses to the World Gold Council's 2024 Central Bank Gold Reserves Survey, their appetites for the yellow metal aren’t going to be satisfied any time soon. Last year, central banks added a net 1,037 tons of gold to their reserves, just slightly below the record of 1,082 tons in the previous year. That pace of buying will likely continue. Based on a World Gold Council survey that included 70 respondents, 29 percent of central banks plan to add more gold to their reserves in the next 12 months. The WGC said it was the highest level since the survey began in ... (full story)

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  • Category: Fundamental Analysis