Central Banks Plan Record 45% Gold Buying as 89% Expect Global Reserves to Rise
Updated
Updated · Fox News · Aug 10
Central Banks Plan Record 45% Gold Buying as 89% Expect Global Reserves to Rise
3 articles · Updated · Fox News · Aug 10
Summary
A record 45% of central banks say they plan to increase gold holdings over the next year, while 89% expect total global official reserves to keep growing, according to a World Gold Council survey.
About 90% cited gold's performance in crises as a key reason to hold it; 84% pointed to its long-term store-of-value role and inflation hedge, and 83% said it improves reserve diversification.
China is not the only buyer: Poland, Uzbekistan, Kazakhstan, the Czech Republic, Chile, Jordan and Ghana were also among this year's biggest purchasers, with much of the demand coming from developing economies.
Nearly 74% of central banks expect the U.S. dollar's share of global reserves to be lower in five years, while gold's share rises, signaling a broader shift toward protection against geopolitical and economic shocks.