Central banks are buying record amounts of gold: what are the reasons?
The third quarter of 2022 saw the largest quarterly purchase of gold by central banks in 55 years.
That was not always so. Central banks’ gold holdings have been falling for decades.
Then came a turning point. Since then, the gold holdings of the central banks have been increasing again.
What factors are causing central banks to buy more gold?
We discuss the findings of an International Monetary Fund working paper entitled, “Gold as International Reserves: A Barbarous Relic No More?”
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