Central Banking

Gold for central banking focus report 2020

Throughout history, gold has played an important role in both its actual and symbolic value. For many ancient civilisations, such as the Incas and Egyptians, gold ownership was limited to members of the royal families, as only they had access to the gods. 

This year, the Covid-19 pandemic and the reaction from central banks had a significant impact on the price of gold. Over the past few decades, central banks have viewed gold as a ‘safe-haven asset’ – an investment that can be used to dodge the impact of negative sovereign bond yields and act as a safeguard against inflation.

As this report affirms, 2020 has been a challenging year for gold investors – only time will tell what role it will take as we recover from the pandemic.

Download the 2020 focus report in PDF format

  • LinkedIn  
  • Save this article
  • Print this page  
Gold reserves in central banks – 2020 survey results

Reserve managers share their views on future gold holdings, target allocations, purchasing and storage approaches, the use of ETFs, and the impact of Covid-19, in the results of a new joint Central Banking-Invesco survey. By Nick Carver and Robert Pringle

Has Covid-19 made gold shine brighter?

The price of gold has skyrocketed this year, but central banks have not flocked to invest as they have done in the past, write Rachael King and Victor Mendez‑Barreira.

How gold has regained its shine

In a year of exceptional circumstances – especially true for gold, which, in August, saw an all-time high price – Invesco explores how pandemic-driven uncertainty has returned the precious metal to the spotlight of the global monetary system.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: