Central Banks Stockpile Record-Breaking Amounts of Gold Amid Economic Uncertainty

Gold has long been a safe-haven asset and a store of value throughout human history. Its role as a medium of exchange has made it a widely used investment during turbulent times, particularly when inflation is on the rise or currencies are depreciating.

Central banks hold the largest amount of gold reserves, with many countries including China, India, and Turkey increasing their gold holdings in recent years.

In 2022, central banks added a record-breaking 1,136 tonnes of gold worth around $70 billion to their reserves, according to data from the World Gold Council.