Global central banks own about 17 percent of all the gold ever mined, with reserves topping 36,699 metric tons (MT) as of year-end 2023. They acquired the vast majority in the years after becoming net buyers of the metal in 2010. Central banks purchase gold for a number of reasons: to mitigate risk, to hedge against inflation and to promote economic stability. Increased concerns over another global financial crisis have as expected led central banks once again to build up their gold reserves. In a mid-2024 survey, the World Gold Council (WGC) said that 81 percent of the central bankers it polled expect global gold ... (full story)