"Following a historical high level of central bank gold buying, gold continues to be viewed favourably by central banks.

 

"Our 2023 survey revealed that 24% of central banks intend to increase their holding reserves in the next 12 months.

 

"Furthermore, central banks' views towards the future role of the US dollar were more pessimistic than in previous surveys. By contrast, their views towards gold's future role grew more optimistic, with 62% saying that gold will have a greater share of total reserves compared to 46% last year," the WGC said.

 

Other points included:

 

• Half of central banks surveyed believe the percentage of reserves in US dollars in five years will be between 40-50%, while just over a quarter believe it will remain unchanged.

 

• Most central banks expect a slight increase in the proportion of total reserves being denominated in gold over the next five years, with developing economies primarily driving this view.

 

• Historical position remains the most relevant factor in organisational decisions to hold gold.

 

• The same as last year, most respondents do not expect the level of gold reserves in their institution to change over the next year. Around a quarter anticipate an increase.

 

The full report and video of the results may be found at this Goldhub address: https://shorturl.at/hCHZ4