How important are central bank holdings of gold?

2026

Open publication workspace · Sign in to read the full PDF.

AI-generated summary

1) This paper examines the evolving role and importance of gold holdings in central bank reserves, particularly in light of rising gold prices and geopolitical uncertainty.
2) * Analyzes historical trends in central bank gold holdings from 1970-2024, showing a recent increase in value as a share of global GDP.
* Details which central banks hold the most gold, distinguishing between advanced economies and emerging markets, and highlights recent purchasing trends.
* Explores the drivers of central bank demand for gold, including its role as a store of value, inflation hedge, and safe haven during crises.
3) Central banks, gold reserves, monetary policy, international finance, geopolitical risk

Check the original publication for accuracy and context.