Central Banks and Investors Drive Gold to Record Highs
TL;DR
Gold prices are soaring partly due to increased central bank buying, which is often underestimated because of unreported demand estimates. Official data shows modest reported purchases, but estimates from organizations like the WGC suggest much higher total acquisitions, driven by geopolitical tensions and market opacity. The true scale of central bank gold buying remains uncertain due to data limitations and market complexity.
- Central banks have been buying a squillion tonnes of gold, promise Financial Times
- Gold and silver are trading near record highs. Wall Street thinks there's more to come. Yahoo Finance
- Gold continues record run on safe-haven rush, U.S. rate cut bets CNBC
- EU's Ukraine funding plan could further boost central bank gold buying, analysts say Reuters
- What’s Behind Gold’s Record Rally? Morgan Stanley
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