Market Watch: Why Central Banks' Hunger for Gold Shows 'No Sign of Being Quelled' This Year
Article by Myra P. Saefong in Market Watch
Central banks stretched their gold-buying streak to a 15th consecutive year in 2024, contributing to a rise in total demand for the precious metal to its highest annual level on record — with no sign of an end this year to their “hunger” for gold, according to the World Gold Council.
Gold purchases by central banks and other institutions reached 1,044.6 metric tons in 2024, the World Gold Council said in its latest Gold Demand Trends report released Wednesday.
That’s down a bit from 1,050.8 metric tons in 2023, but buying topped 1,000 metric tons for a third year in a row — well above the 473-metric-ton annual average seen between 2010 .....