The World Gold Council (WGC) survey found that more central banks plan to add to their gold reserves within the next 12 months due to ongoing macroeconomic and political uncertainty.
29% of central banks surveyed expect their own gold reserves to increase in the next 12 months, up from 24% in the previous year.
81% of respondents expect global central bank gold reserves to increase over the next 12 months, compared to 71% a year ago.
The top reasons cited for increasing gold holdings are its role as a long-term store of value, its performance during times of crisis, and its effectiveness as a portfolio diversifier.
More central banks are also considering changes to their gold custody arrangements, including diversifying overseas storage and adjusting domestic storage.
Despite record demand from the official sector and high gold prices, central banks maintain their enthusiasm for gold as a strategic asset.
More Central Banks Plan to Increase Gold Reserves Within 12 Months, WGC Survey Finds