The World Gold Council has reported that gold purchases during the first half of this year reached a record high. Gold has long been considered a precious metal and a safe haven asset, making it a preferred choice for hedging against economic uncertainty and as a stable investment.
Gold has historically attracted traders, investors, and governments during times of market volatility, and it appears that the world is once again turning to gold.
In 2022, the demand for gold was exceptional, reaching its highest level in over a decade. Notably, central banks globally purchased a remarkable $70 billion worth of gold during that year, marking the most substantial central bank gold buying spree in 73 years.
This renewed interest in gold underscores its enduring appeal as a store of value and a trusted asset in times of economic and financial instability.
