According to the World Gold Council (WGC), in 2018, the purchase of gold by the global central bank reached the second highest level in history.
According to the WGC, the number of gold medals of central banks worldwide has been the highest since 1967, and has been the highest since US President Nixon decided in 1971 to end the dollar pin for gold policy.
In 2018, the global central bank bought gold in the amount of 651.5 tons, which is 74% more than in the previous year of 375 metric tons. WGC estimates that the global central bank currently holds nearly 34,000 metric tons of gold.
The report pointed out that the Fed holds the most gold, about three quarters of US foreign exchange reserves.
If the current spot price of gold is converted to $ 1321.15 per ounce, then in 2018 the global central bank will receive a gold of $ 27.7 billion.
WGC said in a report released Thursday: "Year after last year, political and economic uncertainty increased, which led the global central banks to diversify their foreign reserves and therefore focused on investing in safe liquid assets."
The WGC said several central banks bought most of the gold and Russia bought most of the dollars. In 2018, the Russian central bank almost completely withdrew US bonds and bought 274.3 tons of gold.