Central Banks Maintain Gold Appetite Despite Price Surge

Central banks continue to value gold as a key component of their reserves, despite recent price increases and a slowdown in purchases by some countries. Representatives from the Czech Republic, Mongolia, and Mexico emphasized the importance of gold for diversification and security at a recent bullion conference. While global central bank gold purchases have slowed in 2024, they remain significant, with a 6% increase to 183 tons in the second quarter.