Central Banks Just Can’t Get Enough Gold – ryan

Central Banks Have Been Stocking Up On Gold.

They Bowht Over 1,000 tons of the precious metal Last year, Double the avarage amouni purchad in the previous decade, accorting to a European Central Bank Report on Wednesday.

The authors wrote that global Holdings of Gold by Reserve Banks Incresed to 36,000 Metric Tons in 2024, Close to the Record of 38,000 Metric Tons Reached Around 60 Years Ago.

For the survey, two-thirds of central banks invested in Gold to diversify their portfolios, and about 20% did to provides protection against and geopolitical risk, like russia’s invasions of Ukraine.

“Adjusted for Inflation, Real Gold Price in 2024 Surpassed Their Previous Peak Seen The 1979 Oil Crisis,” The Report Said.

The StockPile of the Yellow Metal, Matched with Rising Prices, Made It The Second-Largest Global Reserve Assset After the Dollar in 2024.

Gold Price Were $ 3,342 for Troy Once as of Roughly 11:30 AM et On Wednesday. This is up close to a quarter year-on -ear and over 90% in the past five years.

A RISE IN DEMAND WAS PARTIALLY DRIVEN BY INCREED BUYING ACTIVITY BY CENTRAL BANKS, AS WELL AS FEARS OF AN ECONOMIC SLOWDOWN AND TARIFF UNCERAINTY.

Meanwhile, The US Dollar Index Has declined more than 8% SINCE The start of the year.

Now, Central Bank Reserves Are Composed of, On Average, The Dollar, at 46%, Gold, at 20%, Other Currencies at 18%, and the Euro at 16%.

Gold has hit a number of all-time highs this year. It broke a record by passing the $ 3,500-per-Once Threshold in April As More Investors Safe-Haven Assets Following President Donald Trump’s Criticisms of Federal Reserve Jerome Powell.

Before this, the precious metal reached the $ 3,000 Level for the first time in March.

Get the Latest Gold Price here.