84% of central banks expect gold to make up a larger share of global reserves five years from now than it does today.
Last year, that figure was 76%.
To me, that shift is more interesting than the number itself.
The people who actually decide how national reserves are allocated increasingly expect gold’s role to keep growing.
And changes in the reserve system usually do not happen dramatically overnight.
They happen slowly.
A few percentage points here, a few additional purchases there, less of new reserves going into one currency and more going into gold.
If 84% of central banks now expect gold to hold a larger share of reserves in five years, up from 76% just a year ago, that is not a price target for gold.
But it is a fairly clear signal of how reserve managers see the future mix of global reserves.
And by their own expectations, that mix is still gradually shifting toward gold.
Leave a Reply