May 01, 2026
Why Countries Are Stocking Up on Gold
THE NEW YORK TIMES: As risk has escalated, central banks have bought more gold to stash in reserve. A widening Middle East war could add to the urgency.
Screenshot taken from this NYT article. | Gold bars stored at the Bank of England. | Bank of England | Credits: Unavailable
Central banks around the world have bulked up their reserves of gold, a safe but cumbersome investment that has been revived in popularity by intensifying geopolitical tensions and concerns over inflation.
This year, the price of gold exceeded $5,000 per troy ounce for the first time in history. One major reason prices have soared — doubling in a year and a half — is the demand from emerging economies: The central banks of Poland, Turkey, India and China have been some of the biggest buyers of gold in the past several years.
The shock to the global financial system from the war in the Middle East has underlined again how some central banks turn to gold during times of stress.
Central banks have continued to add to their holdings of gold since the conflict began in late February, including those in China, Poland, the Czech Republic and Uzbekistan, according to data from the World Gold Council. In March, China’s central bank bought more gold than it had in more than a year. Guatemala also bought gold in March, for the first time in about six months, the council said. » | Eshe Nelson | Eshe Nelson, who reported from London, has written about central banks and financial markets for more than a decade. | Friday, May 1, 2026
Where in the World Is All That Gold Stored?: As central banks buy more gold, where to put all that heavy metal is an increasingly important question. Reserves must be secure and ready to trade in a crisis. »
Central banks around the world have bulked up their reserves of gold, a safe but cumbersome investment that has been revived in popularity by intensifying geopolitical tensions and concerns over inflation.
This year, the price of gold exceeded $5,000 per troy ounce for the first time in history. One major reason prices have soared — doubling in a year and a half — is the demand from emerging economies: The central banks of Poland, Turkey, India and China have been some of the biggest buyers of gold in the past several years.
The shock to the global financial system from the war in the Middle East has underlined again how some central banks turn to gold during times of stress.
Central banks have continued to add to their holdings of gold since the conflict began in late February, including those in China, Poland, the Czech Republic and Uzbekistan, according to data from the World Gold Council. In March, China’s central bank bought more gold than it had in more than a year. Guatemala also bought gold in March, for the first time in about six months, the council said. » | Eshe Nelson | Eshe Nelson, who reported from London, has written about central banks and financial markets for more than a decade. | Friday, May 1, 2026
Where in the World Is All That Gold Stored?: As central banks buy more gold, where to put all that heavy metal is an increasingly important question. Reserves must be secure and ready to trade in a crisis. »
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