Central Banks are Turning to Gold: A New Era is Beginning

The Value of Gold and Central Banks Revisited

Murat Akyol, Director of the Research Department at Ünlü&Co, notes that recent financial fluctuations have led central banks to increase their gold purchases. In an era where the popularity of digital currencies is rising, while the dollar maintains its dominance, gold is regaining value.

Historic Gold Purchases in the Last Two Years

As we approach the mid-2020s, there is a significant increase in gold purchases by central banks. Many central banks, from emerging economies to developed countries, have made large quantities of gold purchases over the last two years. According to data from the World Gold Council, the net gold purchases of central banks are set to exceed 1,000 tons in 2024, reaching historic levels.

28% Increase Recorded in the Third Quarter

According to data from the World Gold Council, central banks purchased 220 tons of gold in the recently concluded third quarter. This represents a 28% increase compared to the previous quarter. This attitude of central banks could reshape the role of gold in financial markets in the future.

Continued in Bloomberg Businessweek Turkey!

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