Reported 8 months ago
According to the World Gold Council's Global Central Bank Gold Reserves Survey for 2024 released on June 18, nearly 30% of global central banks plan to increase their gold reserves in the coming year, the highest ratio since the survey began. This trend is driven by growing pessimism towards the US dollar and as a response to rising political and economic risks and inflation pressures. Despite a recent dip in gold prices, which reached a high of $2,454.2 in May but has since decreased by about 6%, gold prices have still surged by approximately 12% this year. The survey also shows that central banks globally have been consistently increasing their gold reserves over the past two years, with 2022 marking a record increase of 1,082 tons and 2023 following closely with 1,037 tons. The report suggests that with the current economic uncertainties and global unrest, the increase in gold reserves in 2024 may surpass previous levels.
Source: YAHOO