World Gold Council: More central banks are choosing to repatriate their gold reserves

According to Odaily, a survey by the World Gold Council shows that an increasing number of central banks are moving gold out of vaults in London and New York, increasing domestic storage or diversifying overseas storage locations. Over the past four years, central banks worldwide have purchased an average of 1,000 tons of gold annually, which is twice the average level of the past decade. Nearly 90% of surveyed central banks stated that they expect global central bank gold reserves to increase over the next year. (iiss)