Banking on better Performance during crisisCentral banks continue to hold gold due to the ‘long-term store of value’ of this precious metal, the WGC states. The banks also base their trust upon gold’s performance during times of crisis. “There has been a notable uptick in how advanced economy central banks view the role of gold, with their perspectives now much more closely aligned with those of emerging market central banks,” the WGC states.Top concerns of central banks when it comes to reserve management decisionsInterest rate levelsInflation concernsGeopolitical instabilityIndia’s gold demand witnessed a significant rise of 8 per cent, reaching 136.6 tonnes in the first quarter of 2024 (January to March). This rise in demand was fuelled by the Reserve Bank of India’s (RBI) robust gold purchases. In addition to this, the high in the first quarter was furthered by robust economic growth, despite gold prices reaching historic highs. The RBI had purchased over 19 tonnes of gold during the first quarter of 2024 (Q1-CY24 / Q4-FY24), thereby surpassing the 16 tonnes it purchased throughout the entirety of last year (2023), according to the WGC report released in April.
sekar nallalu Cryptocurrency,gold,Invest Central Banks To Add More Gold In Next 12 Months: World Gold Council Report
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