Central banks globally are ramping up gold purchases to levels unseen in recent years, with Goldman Sachs estimating that 79 tonnes were bought in August, more than four times the pre-2022 monthly average of 17 tonnes. The buying spree comes alongside a quiet but significant relocation of gold reserves out of the United States to Europe and domestic storage, as governments signal growing distrust in G7 reserve currencies and seek to protect against geopolitical instability.
organisation
Central banks
Global monetary authorities that manage national currency and reserves