Central banks’ record gold purchases drive strongest first quarter demand in 8 years

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Central banks’ unprecedented gold acquisitions propelled the strongest first quarter gold demand in 8 years, amidst rising global tensions and investment uncertainty. The surge in demand, fueled by emerging markets like China and India, underscores a shift in the gold market landscape and potential implications for global currencies.

Key Points:

  • Central bank gold purchases drive record first quarter demand.
  • India’s gold demand rises 8% despite historic price highs.
  • Thailand’s government pension fund turns to gold and oil to mitigate risk.
  • Analysts speculate on gold-backed currency implications for the U.S. dollar.
  • Chinese gold demand surges, with record imports and central bank acquisitions.
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