Countries are so spooked by de-dollarization and the Western sanctions against Russia, they are increasingly moving gold assets back home for safekeeping
About 41% of survey respondents expect to increase gold allocation in their portfolios over the next three years, according to asset manager Invesco, who surveyed 85 sovereign investors and 57 central banks between January and March.
Central banks around the globe snapped up a record 1,136 metric tons of gold last year, marking a 12th straight year of increasing in gold purchases, theBut central banks appear to be less willing to keep their physical gold assets in storage overseas, with just under 70% of respondents now keeping the reserves at home. This percentage is up from 50% in 2020, per the survey.
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