45% of Central Banks Plan to Buy More Gold in Short Term – WGC
A World Gold Council survey shows 45% of central banks expect to increase gold purchases in the near term, with demand remaining strong despite a 120% price rise over the past two years.
According to data published Tuesday by the World Gold Council (WGC), a record 45% of central banks anticipate buying more gold in the short term. The survey indicates that global central bank demand for gold is expected to stay elevated this year, even as bullion prices have surged more than 120% over the last two years.
The findings underscore sustained official-sector appetite for the precious metal, which has been driven by reserve diversification and geopolitical uncertainties. The WGC data did not provide specific volume forecasts, but the percentage of banks planning additional purchases is the highest recorded in the survey's history.
Source: FXStreet Forex News