Investors Seek Safe Haven Amid Economic Uncertainty, Survey Finds

Central banks are expected to continue boosting their gold reserves over the next year as the appeal of the US dollar diminishes for long-term investors seeking a safe haven. According to the World Gold Council’s 2024 Central Banks Gold Reserves survey, 29% of the banks surveyed plan to increase their gold holdings, while 81% anticipate a global rise in central bank gold reserves.

This reflects the highest level of optimism towards gold since 2019, driven by concerns over macroeconomic instability and the shifting sentiment towards the dollar. Analysts predict that this trend will continue as central banks seek stability in the face of ongoing global uncertainties.