How Central Banks Could Help Drive the New Gold Rally - ETF Trends

Source: ETF Trends

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DW NOTE

Central banks bought 1,037 tonnes of gold in 2024 and another 290 tonnes just in Q1 2025, before the price hit $5,318 in January. At $4,423 now, they're buying into a 16.8% drawdown from that high — which means they're getting a discount on an asset that's still up 24.6% year-over-year while the Strait of Hormuz remains closed and the US deficit runs 3% higher than last year. That's not a rally story, that's a portfolio tilt away from someone else's balance sheet.

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