The ‘official’ gold binge has legs
Emerging market central banks are still stockpiling the precious metal, despite higher interest rates curbing its investment appeal. Here are three reasons why
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GEOPOLITICS tops the list. Whether it’s a trade war or an actual war, “black swan” events are not so rare anymore. Unexpected economic consequences are coming from many channels: commodity price shocks, capital flight, and lasting supply chain disruptions. We have seen it all in the last few years.
The world has become more fractious and uncertain for businesses and policymakers. The rise in geopolitical risks has in the last few years been the sharpest since 2001’s attack on New York’s World Trade Centre and the 2003 Iraq war, according to Economic Policy Uncertainty data.
Gold’s ability to hold value in the face of complex geopolitical risks makes it a favoured asset in central bank portfolios.
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