In early 2025, global central banks continued to purchase gold, resulting in a net increase of 243.7 tonnes in reserves during the first quarter. This trend reflects a shift from dollar-denominated assets towards gold, driven by geopolitical tensions and inflation. Central banks in emerging economies, particularly the People's Bank of China, are leading the charge, as they seek to hedge against currency volatility. Significant buyers also include Turkey, India, and Kazakhstan, as they navigate challenges with the West and the changing global economic landscape.
Driven by geopolitical tensions, inflationary pressures, and skepticism towards the U.S. dollar, global central banks significantly increased gold purchases by 243.7 tonnes in Q1 2025.
The People's Bank of China has been a major player in the gold market, continuing its buying streak amid growing economic uncertainties and geopolitical tensions.
Gold is increasingly recognized as a hedge against currency volatility and is seen as a symbol of monetary independence as nations navigate economic uncertainty.
Emerging economies, facing economic volatility, are pivoting away from dollar reserves, with countries like Turkey, India, and Kazakhstan heavily investing in gold.
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