Central banks boost gold buying to diversify reserves – survey
Monetary authorities expect dollar holdings to decline, WGC finds
The vast majority of central banks surveyed by the World Gold Council (WGC) expect monetary authorities to ramp up their gold purchases over the next 12 months.
The WGC said today (June 17) that 95% of the 73 respondents to its survey believed gold buying would increase. It reported that central banks had amassed more than 1,000 tonnes of gold in each of the last three years, up from 400–500 tonnes annually over the preceding 10 years.
Forty-three per cent of those surveyed expected their own gold
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