Bloomberg reported, according to a recent survey by the Council Yellow Worldwide, central banks consider gold a reserve asset and are likely to increase their gold reserves in the next 12 months.

This is mainly due to growing concerns about a possible global financial crisis. According to a survey of central banks in emerging markets and developing economies, about 25% of respondents intend to add more gold reserves. This is up from 21% in 2021.

The survey said anticipated changes in the international monetary system and concerns about increased economic risks in reserve currency economies were also key factors. In addition, inflation increased, monetary tightening and Russia’s War in Ukraine further disrupting supply chains and causing geopolitical uncertainties.

Shaokai Fan, global head of central banks at the World Gold Council, said in an interview: “The geopolitical situation is much more volatile and we don’t know how long it will last. how much longer. Gold has demonstrated its safe-haven properties in that situation. That’s an aspect that central banks are looking at.”

Central banks in emerging markets are optimistic about the future of gold in the international monetary system, according to Shaokai Fan. The survey also found that the majority of respondents expect gold to grow proportionally to total reserves in the coming years, as gold’s attributes such as a safe-haven asset and its ability to function in times of crisis. crisis is still guaranteed.

World gold price opening session on 9.6 listed on Kitco at 1,852.7 USD/ounce, up 3.2 USD/ounce compared to the opening session on 8.6.

Analysts at UK-based precious metals research firm Metal Focus forecast the full-year average gold price will be around $1,830 an ounce. This would be the highest average price ever. This prediction is made when gold price recently still trading in the neutral zone, around 1,850 USD/ounce.