Unprecedented Gold Hoarding By Central Banks Heralds Financial Sea Change ...Middle East

My estimation of global official gold reserves hit 38,764 tonnes in Q2 2023, breaking its previous record from 1965. The new high confirms the world has entered a new era of gold. Central banks will continue to accumulate gold and the metal’s role in the international monetary system will increase to the detriment of the US dollar. Analysts widely use the International Monetary Fund (IMF) calculation for total official gold holdings, though what is usually overlooked is that this number is an estimate by the Fund. As mentioned in my previous…

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