Economics
Central Bank Hunger for Gold Lifts Demand to Three-Year High
- Reserves rose further in first half amid big Polish purchase
- Investors also boosted gold ETF holdings, supporting prices
This article is for subscribers only.
Central banks continued to load up on gold in the first half, helping push total bullion demand to a three-year high, according to the World Gold Council.
Nations added 374.1 tons in the first six months as Russia and China kept building reserves and Poland made a massive purchase. The trend is expected to continue, with a recent survey of central banks showing 54% of respondents expect global holdings to climb in the next 12 months.