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Tuesday, December 5, 2023

Why are central banks hoarding gold? | Enterprise and Economic system

The World Gold Council says gold purchases within the first half of this 12 months have been the very best on report.

Gold is treasured and infrequently serves as a secure haven; it’s a hedge in opposition to financial uncertainty and an funding favoured for its stability.

Merchants, buyers and governments have typically seemed to it in instances of market volatility and it appears the world is seeking to gold once more.

2022 was an distinctive 12 months for the yellow steel: Demand reached its highest degree in additional than a decade, and central banks globally purchased a staggering $70bn price of gold – that’s essentially the most in 73 years.

Elsewhere, Elon Musk tells staff fired for posts on X that he’s obtained their backs.

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