ChainCatcher Message: Spot gold has broken through the $4,500 per ounce level for the first time in history, reaching a high of $4,525, with an increase of over 70% year-to-date, potentially marking the best annual performance since 1979.
In recent years, as countries seek to reduce dependence on the US dollar and hedge geopolitical risks, central banks’ gold purchases have surged. According to data compiled by Gelonghui, from 2000 to 2024, Russia’s gold reserves have increased by 1,948 tons, ranking first and slightly surpassing China’s 1,885 tons.
Other emerging economies are also rapidly accumulating gold, with India and Turkey increasing their reserves by 518 tons and 501 tons respectively. Other leading countries include Poland (345 tons), Kazakhstan (227 tons), Saudi Arabia (180 tons), and Thailand (161 tons).
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