15 December 2023
With the heightened risk of currency instability in 2024, it’s unsurprising that central banks are heavily investing in gold. In the first three quarters of 2023, central banks’ gold purchases hit a record high, exceeding 800 tonnes, marking a 14% increase from 2022. This surge in gold acquisition reflects their strategy to fortify and diversify reserves, lessen reliance on sovereign debt, which has led to net losses recently, and boost holdings in gold, an asset known for its stability and long-term purchasing power.