by TOKYO — Gold shopping for by central banks reached its highest degree in 55 years, knowledge launched Tuesday reveals, because the freezing of Russia’s greenback belongings spurred nations to hunt options much less susceptible to financial sanctions.
Net purchases of the steel by central banks in 2022 totaled 1,135 tonnes in 2022, based on a report from the World Gold Council, an trade group. This was the very best since 1967, when European banks purchased gold en masse as U.S. deficits and the devaluation of the British pound started to undermine the hyperlink between gold and the greenback.
