Key Facts
• World Gold Council (WGC) survey shows 95% predict gold reserve growth in 2024.
• Respondents expecting gold reserve increases: 61% (2022), 71% (2023), 81% (2024).
• 43% of respondents foresee their own central bank increasing gold reserves, up from 29% in 2023.
• Emerging and developing nations lead gold reserve growth: 48% (28 of 58 countries).
• Advanced economies show lower growth expectations: 21% (3 of 14 countries).
• 72% predict gold’s share in total reserves will “slightly increase” over five years.
• Gold prices rose 29% year-to-date, peaking at $3,500 per troy ounce before falling to $3,396.60.
• April gold purchases by central banks totaled 12 tons, a 12% month-on-month decline.
• 85% of respondents cite crisis preparedness as the primary reason for holding gold.
• Gold’s role in portfolio diversification (81%) and long-term value preservation (80%) slightly declined.
Summary
The World Gold Council (WGC) predicts a significant increase in global central bank gold reserves over the next year, with 95% of survey respondents expecting growth. Emerging and developing nations are leading this trend, with 48% of their central banks planning to increase reserves, compared to 21% in advanced economies. Gold’s share in total reserves is also expected to rise slightly over the next five years. The survey highlights crisis preparedness (85%) as the top reason for holding gold, followed by portfolio diversification (81%) and long-term value preservation (80%). Gold prices have surged 29% year-to-date, peaking at $3,500 per troy ounce before a slight decline. Despite a 12% drop in April’s gold purchases, central banks remain strategically committed to gold investments.
