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Central banks to reduce gold purchases by end of 2024?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
Reports from the World Gold Council or other credible financial institutions
Story
PBOC and Central Banks Drive Record Gold Rally Amid Monetary Easing
Oct 15, 2024, 12:02 AM
Central banks have significantly increased their gold purchases, driving a record-smashing rally in bullion prices this year. The People's Bank of China (PBOC) has been one of the most notable buyers. Since 2009, central banks have been net buyers of gold, acquiring one out of every eight ounces produced globally in the past decade. Despite the recent surge in gold prices, central banks reaffirm their commitment to gold as a reserve asset. This trend has not been mirrored by individual investors, who have not seen inflows commensurate with the rise in gold prices. Gold held a small decline as traders digested comments from a senior US policymaker suggesting a slower pace of monetary easing, while haven demand fell amid fading concerns about an escalation in Middle East conflicts.
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Less than 40,000 tonnes • 25%
40,000 to 41,000 tonnes • 25%
41,000 to 42,000 tonnes • 25%
More than 42,000 tonnes • 25%
Yes • 50%
No • 50%
People's Bank of China • 25%
European Central Bank • 25%
Federal Reserve • 25%
Other • 25%
Geopolitical tensions • 25%
Inflation concerns • 25%
Currency instability • 25%
Diversification strategy • 25%
