29% of central banks plan to increase gold reserves, highest since 2018.

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The 2024 Central Bank Gold Reserves (CBGR) survey conducted by the World Gold Council reveals that 29% of central bank respondents plan to increase their gold reserves in the next twelve months. This is the highest level observed since the survey began in 2018. The motivations behind these planned purchases include a desire to rebalance gold holdings, domestic gold production, and concerns related to financial markets, including higher crisis risks and rising inflation. It’s interesting to see how central banks continue to view gold favorably as a reserve asset in an increasingly complex geopolitical and financial environment.

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