Survey Shows More Central Banks Plan to Increase Gold Reserves

A new survey by the World Gold Council has found that a larger share of central banks expect to add to their gold reserves in the year ahead.

The poll of 74 central banks showed that 45 percent of reserve managers anticipate raising gold holdings over the next 12 months, an increase of two percentage points from the previous year. Fifty-four percent expect reserves to stay the same, while one percent foresee a reduction. The share of central banks that already hold gold rose to 93 percent from 81 percent last year.

Respondents identified gold’s performance in crises, its long-term value preservation, portfolio diversification, and protection from geopolitical risks as the main reasons for planned increases. The Bank of England remains the most popular location for storing central bank gold reserves.