Even as gold prices set new all-time highs, net purchases by central banks more than doubled to 37 tonnes in July, and demand is expected to remain strong over the coming months, according to Krishan Gopaul, Senior Analyst, EMEA at the World Gold Council (WGC). “In total, seven central banks added gold (of a tonne […]
“There’s a clear path for gold to outperform from here, likely fueled by Western flows.” Year-to-date gold prices are up roughly 12%; the yellow metal is one of the best-performing assets in global financial markets, Artigas said. Artigas noted that gold has been able to withstand these traditional headwinds due to robust retail demand in
The Gold Market is Well-Positioned for the Second Half of 2024 – World Gold Council Read More »
Central banks boosted their gold stockpiles amid a backlash against the dollar. Global reserves grew by 228.4 tons in the first quarter, the World Gold Council reported. 176% increase from a year ago. The recent surge in demand for gold has been seen as a sign of de-dollarization after the greenback became weaponized to put financial
“This was also comfortably within the 20-60t range of reported purchases which has been in place over the last ten consecutive months of net buying,” (Wrote Krishan Gopaul, Senior Analyst at the WGC.) (Kitco News) After a record-setting year in 2022, central banks remain very interested in gold at the start of 2023, according to the
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