Central banks see gold as a reserve asset and will likely increase their holdings of the metal in the next twelve months. Moneyweb Gold Inflation
Central banks see gold as a reserve asset and will likely increase their holdings of the metal in the next twelve months, according to a survey by the World Gold Council. That’s mainly due to increasing concerns about a possible global financial crisis, with central banks in emerging market and developing economies, or about a quarter of survey respondents, intending to add more bullion to their reserves. That’s an uptick from 21% in 2021.
“The geopolitical situations are much more volatile and we don’t know how much longer this situation will persist,” said Shaokai Fan, global head of central banks at WGC, in an interview. “What has happened is gold has proven its safe haven characteristics during that situation. That’s one aspect that central banks are considering.” Emerging markets central banks are optimistic about gold’s future in the international monetary system, and they’re on the fence about the US dollar, said Fan.
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