More central banks to increase gold reserves within 12 months

From Mining.com

More central banks plan to add to their gold reserves within a year and more of them expect others to do so as well, due to ongoing macroeconomic and political uncertainty despite high prices for the precious metal, the World Gold Council (WGC) said in its annual survey.

Demand for gold from central banks has been elevated in the last two years as some countries diversify their foreign currency reserves. Their demand contributed to the gold price rally in March-May with the spot price hitting a record high of $2,449.89 per ounce on May 20.