Deals
Central Banks Are on the Biggest Gold-Buying Spree in a Half Century
- Central banks had second-largest year of purchases on record
- Demand for haven in Europe also aided demand in 2018, WGC says
Photographer: Scott Eells/Bloomberg
This article is for subscribers only.
Central banks bought more bullion last year than anytime since 1971, when the U.S. ended the gold standard.
Governments added 651.5 tons of gold to their coffers in 2018, a 74 percent increase from the previous year, according to a report from the World Gold Council.