Gold Price at Crossroads as Central Banks Hoard Record Amounts

Central banks have accumulated a record 36,664.5 tonnes of gold, accounting for nearly 17% of all the metal ever mined.

This stash is worth around $21.6 billion at current prices and has driven up gold reserves by 16.7% since last year.

Despite this surge in official demand, gold's price remains stuck below its January record of $5,626.80.

The precious metal currently trades at $4,055.70 an ounce, down nearly 28% from the peak.