Following historically high levels of gold purchases by global central banks, they continue to view gold positively, with plans to increase the share of gold in their foreign exchange reserves, the 2023 Goldhub survey found.
The survey revealed that 24% of central banks intend to increase their holding reserves in the next 12 months.
Furthermore, central banks’ views towards the future role of the US dollar were more pessimistic than in previous surveys.
By contrast, their views towards gold’s future role grew more optimistic, with 62% saying that gold will have a greater share of total reserves compared to 46% last year.
Earlier, the World Gold Council (WGC) reported that in 2022, global demand for gold increased by 18% compared to 2021, to 4,741 tons – the highest since 2011.
According to the WGC, this was mostly driven by the huge demand for gold by central banks, which in 2022 totaled 1,136 tons. This is also the highest level of gold purchases since 1967.
