Countries across the world added 1,044.6 metric tons (MT) of gold to their vaults last year.

What did the process look like? 

▪️2024 became the third year in a row that gold purchases in this segment surpassed the 1,000 MT mark, the World Gold Council (WGC) reports. 

▪️The central banks increased the volume of gold purchases between 2021 and 2024 by more than two-fold.

▪️The share of gold in global gold and foreign exchange reserves grew from 12.9% in late 2021 to 15.3% at the end of 2023. By the end of 2024, it reached 18.4%. 

📍Forecasts 

▪️81% of the central bankers expect global gold reserves to increase over the next 12 months, a 2024 WGC poll showed. 

▪️The WGC suggests that central bank gold purchases will continue to be a major driver of gold demand this year. 

Central banks that hold the most gold

🇺🇸 The US: 8,133.46 MT
🇩🇪 Germany: 3,351.53 MT
🇮🇹 Italy: 2,451.84 MT
🇫🇷 France: 2,437 MT
🇷🇺 Russia: 2,332.74 MT
🇨🇳 China: 2,279.56 MT
🇨🇭 Switzerland: 1,039.94 MT
🇮🇳 India: 876.18 MT
🇯🇵 Japan: 845.97 MT
🇳🇱 Netherlands: 612.45 MT

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