Central banks boost gold reserves as low interest rates bite

“This is the longest protracted spell of gold accruals since 1950-65, when central banks and treasuries acquired a net total of more than 7,000 tonnes during the economic recovery after the second world war,” said David Marsh, the director of OMFIF.

He said central banks were turning back to gold purchases in line with a century of practice between 1870 and 1970. “This has restored the yellow metal as a central element of monetary management.”

Central banks boost gold reserves as low interest rates bite