Central Banks, Sovereign Wealth Funds Are Buying Gold, and Keeping It Close

This year’s Global Sovereign Asset Management Study, the annual survey of the holdings and stratagems of nearly 60 central banks and even more sovereign wealth funds by the Invesco investment firm, caught the eye of London’s Reuters news service and Financial Times. Not surprisingly, between the impact of inflation and Western economic sanctions, central banks carried out record gold purchases in 2022 and the 1st quarter of 2023. (China, Turkiye, Singapore, India and “Middle East” countries are the only names given in these press accounts.)