Central banks favor gold over dollar for reserves!
Central banks around the world expect their gold holdings as a proportion of their reserves to increase over the next five years while expecting their dollar reserves to be lower, a survey by the World Gold Council (WGC) showed.
Gold demand from central banks has risen significantly over the past three years despite its price rally to consecutive records. It hit an all-time high of $3,500.05 an ounce in April, up 95% since February 2022 when Russia invaded Ukraine.
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