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Central Banks to Increase Gold Holdings Over Crisis Concerns

Emerging markets central banks are worrying about everything from inflation to supply chain chaos

Emerging markets central banks are optimistic about gold’s future.

Emerging markets central banks are optimistic about gold’s future.

Photographer: Akos Stiller/Bloomberg

Central banks see gold as a reserve asset and will likely increase their holdings of the metal in the next twelve months, according to a survey by the World Gold Council.

That’s mainly due to increasing concerns about a possible global financial crisis, with central banks in emerging market and developing economies, or about a quarter of survey respondents, intending to add more bullion to their reserves. That’s an uptick from 21% in 2021.