Central Banks' Gold Buying Intentions Hit Record High

The World Gold Council's latest survey of 74 central banks reveals that 45% intend to increase their gold reserves in the coming year, a record high. This figure has more than doubled since 2020 and marks the third consecutive annual increase.

Emerging market and developing economy central banks led the charge, with approximately 53% of this group planning to add gold, up from 48% last year. Overall, 89% of central banks expect global gold reserves to rise over the next 12 months, the second-highest reading on record.

The strong buying appetite suggests central banks view gold as a resilient asset amid economic uncertainty, with many taking advantage of recent price dips.