2023 Survey: 7 of 10 Central Banks Believe Their Gold Holdings Will Increase in the Next 12 Months

Central banks that issue and promote fiat debt currencies and the purchase of bonds denominated in fiat currencies are moving with their feet.

In a mid-2023 survey of central banks, 7 of 10 central banks surveyed believed their gold reserves would increase in the following 12 months and that number had not fallen below 50% in the 5 years through 2023.

This increasingly positive disposition toward gold by central bankers is interesting.

Central Bank Gold Purchase Expectations at Mid-2023; Chart source: World Gold Council

Central bank gold purchases from 1950 through 2022 show an increasing gold accretion bias since 2010.

Central Bank Gold Purchases Since 1950; Chart source: World Gold Council

That the fiat debt currency printers themselves increasingly intend to buy gold, which is a lifeboat from central bank currency debasement and bond losses, should be noted.

Best regards,

David Jensen