Global Central Banks Splurge $42,423,360,000 on Gold in Just Three Months Amid Heightened ‘Geopolitical Risk and Concerns’

Global central banks have added more gold to their reserves in the third quarter than in any quarter since late 2024, according to the World Gold Council, an industry body. Central banks and other official institutions bought a net 321 tonnes of gold from July through September, up 42% from a year earlier, the World Gold Council says . The council says portfolio diversification and risk management remain the main reasons behind the buying. Central bank purchases so far this year stand at 675 tonnes, 6% higher than over the same stretch last year. Gold-backed exchange-traded funds (ETFs) also returned to inflows, adding 211 tonnes and lifting total holdings to a record 4,256 tonnes.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to The Daily Hodl.