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Gold price percentage change by end of 2024?
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Gold price data from credible sources such as the World Gold Council or major financial news outlets
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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