Wary central banks binge on gold, sending prices soaring3 min read . Updated: 04 Feb 2023, 09:00 AM IST
- Central banks’ view of gold as an asset has been changing and gold purchases are being made with a long-term view. These banks have been buyers of gold every year since 2010 after being net sellers in the two decades preceding the global financial crisis of 2008
Gold prices have risen to a new lifetime high in India in response to certain customs duty provisions in the Union Budget. But even before this, international prices were at a decade high last month, having rallied 15% since November. The surge is driven by the highest demand for gold from central banks in 55 years.
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