Central Banks’ Insatiable Appetite for Gold Fueling the Rally

There’s more to the rally than just lower rates and a weaker U.S. dollar. As many of you are aware, central bank demand for gold has been a powerful driver as more and more developing countries join the de-dollarization movement in response to Western sanctions on Russia.

China has led the charge here, consistently adding large amounts of gold to its reserves for the past 16 months straight. Overall central bank buying reached record highs in 2022 and has shown no signs of slowing, helping to offset the selling pressure caused by gold-backed ETFs.

https://www.usfunds.com/resource/how-lower-rates-and-central-bank-demand-are-fueling-the-\gold-rally/