The World Council Gold Survey in 2024 shows that 81% of respondents expect overall central bank Gold reserves to increase in 2024, 19% to remain the same, and none to decrease.
The survey results also show that the central bank estimates that it will increase gold reserves in 2024, 29% predict this will happen, 68% predict that gold reserves will not change, and only 3% predict that gold reserves will decrease.
Gold price movements since the beginning of this week have often gone back and forth in the range of $2300-$2337 moving within the range of this band. It seems that investors are still watching and waiting for now even though they have received support from geopolitical tensions and estimates that demand for gold will remain high based on the results of the World Gold Council survey.
Gold prices tend to be sideways in the short term, apparently due to investors waiting for confirmation of the Fed's interest rate cut. Currently, the Fed is maintaining high interest rates, thereby reducing interest in buying gold as a safe-haven. Demand for risk assets largely shifted attention to gold, with US stock indexes hitting all-time highs on Monday supported by a rally in technology shares.
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The survey results also show that the central bank estimates that it will increase gold reserves in 2024, 29% predict this will happen, 68% predict that gold reserves will not change, and only 3% predict that gold reserves will decrease.
Gold price movements since the beginning of this week have often gone back and forth in the range of $2300-$2337 moving within the range of this band. It seems that investors are still watching and waiting for now even though they have received support from geopolitical tensions and estimates that demand for gold will remain high based on the results of the World Gold Council survey.
Gold prices tend to be sideways in the short term, apparently due to investors waiting for confirmation of the Fed's interest rate cut. Currently, the Fed is maintaining high interest rates, thereby reducing interest in buying gold as a safe-haven. Demand for risk assets largely shifted attention to gold, with US stock indexes hitting all-time highs on Monday supported by a rally in technology shares.
View attachment 7126
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