Central banks grew their gold reserves in 2023 as analysts see potential price surge

Gold purchases by central banks around the world in 2023 were the second-largest in history on an annual basis, according to a June report by the World Gold Council.

The 2024 Central Bank Gold Reserves survey found that in 2023, central banks added 1,037 tons of gold, which ranked just behind the all-time record purchase of 1,082 tons in 2022.

The survey also found that 29% of central bank respondents plan to increase their gold reserves, which was the highest level the council has...