In 2024, central banks bolstered their gold reserves to 36,000 metric tons, nearly reaching a historical peak. This increase reflects a strategic pivot with gold purchases doubling compared to the previous decade. Motivations include portfolio diversification and protection against geopolitical tensions, notably the fallout from Russia's invasion of Ukraine. Gold's price, surpassing $3,342 per troy ounce, has surged significantly, making it the world's second-largest reserve asset after the dollar. The increase signals a growing preference for safe-haven assets amidst economic uncertainty.
Gold has made a strong comeback as central banks increased their holdings significantly, reaching 36,000 tonnes last year, marking a shift towards financial diversification.
According to the European Central Bank, central banks bought over 1,000 tonnes of gold last year, representing a considerable increase aimed at economic safety.
Collection
[
|
...
]