Central-bank buying spree driving demand for gold – report ...News

Net purchases in 2023 almost matched the previous year’s record, the World Gold Council has said Total gold demand hit the highest level on record last year of 4,899 tons amid global uncertainty and thanks to continued strong buying by central banks, according to the World Gold Council (WGC). In its Gold Demand Trends report for the full year 2023, the industry group said that purchases by central banks maintained a “breakneck pace,” reaching 1,037 tons, almost matching the 2022 record. “Even though it [central bank purchases] is not so strong as it was in 2022, it is substantially higher than prior to 2022 and it

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