Record Gold Rush: Central Banks Add Record Amounts to Reserves

Gold has been a safe-haven asset for centuries, widely used as a store of value and medium of exchange. Its appeal lies in its ability to hedge against inflation and depreciating currencies.

Central banks are among the largest holders of Gold, often diversifying their reserves by buying it to boost economic strength and currency credibility.

In 2022, central banks added a record 1,136 tonnes of Gold worth around $70 billion to their reserves, with emerging economies like China, India, and Turkey leading the charge.