Gold Outlook By Mr. Anuj Gupta, IIFL Securities

9/02/2023 9:44:39 AM | Source: IIFL Securities Ltd

Gold Outlook By Mr. Anuj Gupta, IIFL Securities

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Central banks added a whopping 1,136 tonnes of gold worth some $70 billion to their stockpiles in 2022, by far the most of any year in records going back to 1950, the World Gold Council (WGC) said on Tuesday.

The data underline a shift in attitudes to gold since the 1990s and 2000s, when central banks, particularly those in Western Europe that own a lot of bullion, sold hundreds of tonnes a year.

The central bank purchases took total gold global gold demand last year to 4,741 tonnes, up 18% from 2021 and the highest for any year since 2011

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Gold Outlook By Mr. Anuj Gupta, IIFL Securities

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