SpaceX launches 50th Dragon spacecraft to ISS on resupply mission for NASA
SpaceX launched its 50th Dragon spacecraft mission to the International Space Station (ISS) on Sunday, delivering 5,000 lbs of supplies and scientific...
Central banks around the world expect their gold holdings as a proportion of their reserves to increase over the next five years while expecting their dollar reserves to be lower, a survey by the World Gold Council (WGC) showed.
Gold demand from central banks has risen significantly over the past three years despite its price rally to consecutive records. It hit an all-time high of $3,500.05 an ounce in April, up 95% since February 2022 when Russia invaded Ukraine.
Seventy three central banks responded to WGC's survey, carried out between 25 February and 20 May, and 76% of these expect their gold holdings to be higher in five years compared with 69% last year.
Nearly three-quarters of respondents expected central banks' dollar-denominated reserves to be lower in five years compared with 62% last year.
"Gold’s performance during times of crisis, portfolio diversification and inflation hedging are some key themes driving plans to accumulate more gold over the coming year," WGC said in a release.
Central banks have accumulated more than 1,000 metric tons of gold in each of the last three years, WGC said, adding that this represented a significant rise from the 400-500 ton average in the preceding decade.
"This marked acceleration in the pace of accumulation has occurred against a backdrop of geopolitical and economic uncertainty," WGC said.
A record 95% of respondents think central bank gold reserves will increase over the next 12 months, up from 81% last year, according to WGC's survey, which also showed the Bank of England remains the most popular location for their gold reserves.
Potential trade conflicts and tariffs were cited by 59% of central banks in the survey as relevant to the management of their reserves, the survey showed.
"A larger percentage of these came from emerging markets and developing economies - 69% - than advanced economy respondents - 40%", the council said.
A powerful eruption at Japan’s Shinmoedake volcano sent an ash plume more than 3,000 metres high on Sunday morning, prompting safety warnings from authorities.
According to the German Research Centre for Geosciences (GFZ), a magnitude 5.7 earthquake struck the Oaxaca region of Mexico on Saturday.
The UK is gearing up for Exercise Pegasus 2025, its largest pandemic readiness test since COVID-19. Running from September to November, this full-scale simulation will challenge the country's response to a fast-moving respiratory outbreak.
Kuwait says oil prices will likely stay below $72 per barrel as OPEC monitors global supply trends and U.S. policy signals. The remarks come during market uncertainty fueled by new U.S. tariffs on India and possible sanctions on Russia.
Honduras has brought back mask mandates as COVID-19 cases and a new variant surge nationwide.
British American Tobacco is preparing to sell its first disposable vape in the U.S. reversing years of opposition to unauthorised devices amidst a booming $8 billion market for synthetic nicotine products.
Large investors, wary of September’s traditional seasonal downturns, moved to lock in profits on Tuesday, according to traders and research firms – a sign that the sell-off in technology shares may reflect a broader retreat from risk.
Pop Mart has posted stunning interim results for the first half of 2025, riding on the explosive popularity of its breakout character Labubu.
Estee Lauder (EL.N) said on Wednesday that its annual profit forecast has come in below Wall Street expectations, as the cosmetics giant continues to face weakness in the United States and China alongside uncertainty over tariffs.
The U.S. Commerce Department has expanded steel and aluminium tariffs on Tuesday, to include more than 400 products, aiming to protect domestic industries.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment