Centerra Gold Inc.’s Post

World gold reserves are at their highest level since the 1970s Central banks' holdings are up about 21% in the past 13 years. In 2022 and 2023, central banks bought 1081 and 1037 tonnes of gold, respectively. Gold has risen 15% year-to-date, Making it stronger than ever What are central banks planning for their curriences?

Over these years, central banks and other institutions have increased their gold reserves, with a notable surge in 2022, reaching a record high of 1,136 tons—the highest since 1950. This trend continued in 2023, with central banks, particularly China, maintaining robust purchasing levels, marking a decade high. The proportion of gold demand met by central banks has also seen a substantial increase, peaking at 23.3% in 2023, reflecting a strategic shift towards gold investment amidst global economic changes. #goldinvestment #torus #goldprice

World Gold Council's 2024 Central Bank Gold Reserves survey highlights that 29% of central banks intend to increase their #gold reserves in the next 12 months, the highest level since the survey began in 2018. 👉 https://lnkd.in/gTiivqfd #goldprices #preciousmetals

The 2024 Central Bank Gold Reserves survey by the World Gold Council reveals that 29% of central banks intend to increase their #gold reserves in the next twelve months, the highest level since the survey began in 2018. 👉 https://lnkd.in/gWTQNWpc #goldprices #preciousmetals

World central banks have been stocking up on gold over the past 13 years, with official world gold reserves now reaching 1,170 million fine troy ounces, the highest since the 1970s. In 2022 and 2023 alone, central banks purchased over 1000 tonnes of gold each year. Interestingly, global gold reserves are now higher than they were just before President Nixon broke the US Dollar's link to gold in 1971. With gold up 15% year to date and 85% over the last 5 years, it’s clear that gold is back and stronger than ever...

World Gold Council's 2024 Central Bank Gold Reserves survey reveals that 29% of central banks intend to increase their #gold reserves in the next twelve months, the highest level since the survey began in 2018. 👉 https://lnkd.in/gWTQNWpc #goldprices #preciousmetals

Gold Update :- 1) Central banks bought 800 tonnes in the first nine months of the year, up 14% y/y. Of that, 181 tonnes went to China. -- WGC. 2) The rise this year comes despite a record high in buying the year before. 3) Other central banks that have been buying include Poland at 57 tonnes and Turkey with 39 tonnes.

Central banks' gold buying hit its second-highest yearly volume in 2023, with central banks collectively purchasing around 1037 tonnes, and falling just short of the 2022 record of 1082 tonnes. https://okt.to/BSqWei #Commodities #gold #centralbanks