Reported about 1 year ago
The World Gold Council (WGC) released a report on global central bank gold reserves on June 18, 2024, showing that nearly 30% of central banks worldwide plan to increase their gold holdings in the next year, the highest ratio since the survey began. This is partly due to increasingly negative views on the US dollar and the need to address rising geopolitical and inflation risks. Despite a recent decline in gold prices, with the New York gold futures falling by 0.6% to $2,307 per ounce, prices are still up by about 12% this year. The report surveyed 70 major central banks from February 19 to April 30, with 81% expecting global central bank gold holdings to increase in the next 12 months, the highest rate since 2018. Reasons for increasing gold holdings include concerns about interest rates, inflation, and geopolitical instability.
Source: YAHOO