Central Banks Lead Surge in Gold Buying Amidst Economic Uncertainty

The World Gold Council (WGC) has released its latest report on gold demand and central banks' buying habits. According to the WGC, global gold demand remains steady, with a slight increase in the first quarter of this year compared to the same period last year.

However, it is not individual investors who are driving up demand for gold. Instead, it is central banks that have been increasing their purchases of gold. The WGC reports that central banks bought 129 tonnes of gold in the first quarter of this year, which is a significant increase from the same period last year.

The WGC notes that while individual investors' demand for gold has slowed down, central banks' buying habits are on the rise. This trend could be attributed to the fact that central banks are looking for safe-haven assets amidst economic uncertainty.