According to Visual Capitalist, it is estimated that around one-fifth of all the gold ever mined is held by central banks.
04 May 2023, 08:59
📊 According to Visual Capitalist, it is estimated that around one-fifth of all the gold ever mined is held by central banks. In 2022, this demand for gold saw the largest increase since 1967, in stark contrast to the 1990s and early 2000s, when central banks were net sellers of gold.
Reasons for central banks to hold gold include balancing foreign exchange reserves, hedging against fiat currencies, and diversifying portfolios.
Emerging markets have been the main source of demand since the early 2000s, with Türkiye and China leading the way in 2022. Unreported gold purchases are believed to have come from countries like China and Russia, who are attempting to de-dollarize global trade. 🪙