Central banks will continue to buy gold to diversify their holdings - Invesco survey

Central banks will continue to buy gold to diversify their holdings – Invesco survey

Editor’s Note: Get caught up in minutes with our speedy summary of today’s must-read news stories and expert opinions that moved the precious metals and financial markets. Sign up here! (Kitco News) – In the third quarter, for the first time in nearly a decade, central banks became net sellers of gold . However, according to a report from Invesco, central banks are expected to maintain a firm grip on their gold reserves.

The international investment firm conducted a central bank survey between August and September as gold prices pushed to an all-time high above $2,000 an ounce.

According to the results survey, participants expect to see that central bank gold reserves will continue to increase during the next 12 months.

At the same time, the survey noted that the COVID-19 pandemic had not impacted central banks’ views on gold . Around 25% of respondents said they view gold as a more […]

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