World Gold Council

Amid global economic uncertainty fueled by wars, trade tensions, and inflation, central banks are increasingly stockpiling gold. According to a survey, 89% of central banks expect global gold reserves to grow, viewing it as a safe asset for diversification and protection against fiat currency instability.

Due to increasing global uncertainty from wars, trade tensions, and high inflation, central banks worldwide are accumulating gold reserves as a safe-haven asset. A World Gold Council survey found that 89% of these institutions expect global reserves to grow, leading many countries to diversify away from reliance on single foreign currencies. This purchasing trend is driven by the desire for protection against economic turmoil and geopolitical instability.

India's gold demand fell 6% in April-June due to weak seasonal demand and higher duty. Jewelry demand dropped 15% to 75.1 tonnes compared to 88.8 tonnes in the same period last year.

Central banks bought less gold at the start of the year than previously thought, with demand rebounding but purchases expected to decline this year, according to the World Gold Council.

Ghana's illegal gold mining sector, backed by criminal networks, poses a national security threat linked to terrorism risks. Revenue from small-scale mining exceeded $11 billion in 2023, surpassing large-scale mining, with much of the income smuggled out of the country. Ghana has agreed with the World Gold Council to formalize the artisanal sector.

Chinese investors withdrew a record $2.91 billion from domestic gold ETFs in June as a stock market surge and strong yuan reduced demand for gold, leading to a shift towards higher-risk, higher-return assets, according to the World Gold Council.

Chinese investors withdrew a record $2.91 billion from domestic gold ETFs in June, driven by a stock-market surge and a strong yuan reducing gold's appeal. The World Gold Council attributed the outflows to improved risk appetite, with investors shifting to higher-risk, higher-return assets.

The World Gold Council highlights Asian markets as a growing force in gold price discovery, noting rebounds during Asian trading hours and pullbacks when US markets are open. The report attributes this trend to heightened geopolitical concerns and shifting investor sentiment.

The World Gold Council highlights the growing influence of Asian markets on gold price dynamics, noting rebounds during Asian trading hours and pullbacks during U.S. market sessions. The report underscores gold's sensitivity to geopolitical tensions and shifting investor sentiment.

Central banks are expected to increase gold holdings as the US dollar's dominance in global reserves declines over five years, according to the World Gold Council. A survey indicates 90% of central banks anticipate continued growth in gold reserves, with 45% of respondents setting a record.

The World Gold Council states that diversification is driving China's increasing gold reserves, with expectations of continued additions by central banks in emerging markets. China's gold reserves reached 74.64 million troy ounces, up 260,000 troy ounces from the previous month.