Central banks around the world are ramping up gold purchases at the fastest pace in decades, driven by rising geopolitical tensions, persistent inflation concerns, currency risks and a growing push to diversify reserves away from traditional assets such as the US dollar.
According to the World Gold Council's (WGC) latest Central Bank Gold Reserves Survey, official institutions have purchased an average of 1,000 tonnes of gold annually over the past four years—roughly double the average annual purchases recorded over the previous decade. The buying spree shows little sign of slowing, with 89% of surveyed central banks expecting global official gold reserves to increase over the next year, while 45% expect to add to their own holdings, a record high.
