October 1, 2022
Central Banks to Increase Gold Holdings Over Crisis Concerns

Bloomberg Surveillance with Tom Keene, Jonathan Ferro & Lisa Abramowicz live from New York, bringing insight on global markets and the top business stories of the day.

With Japan’s susceptibility to severe earthquakes and the growing threat of more powerful storms, engineers and architects have pushed the boundaries of technology and design to create resilient, increasingly disaster-proof buildings.

Central banks see gold as a reserve asset and will likely increase their holdings of the metal in the next twelve months, according to a survey by the World Gold Council.

That’s mainly due to increasing concerns about a possible global financial crisis, with central banks in emerging market and developing economies, or about a quarter of survey respondents, intending to add more bullion to their reserves. That’s an uptick from 21% in 2021.

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