Gold has rallied 42% over the past year, propelled by retail, institutional and central bank money. At least one of them delivered a clear sign of continued interest.
In a survey of central bankers, released by the World Gold Council this week, 95% of the respondents believe their gold reserves will increase over the next year. None of them anticipates a decline in their gold reserves.
Take this powerful signal at face value given the survey drew 73 responses—the highest in the council’s history—and was said to be “highly representative of the overall central bank community, both geographically and in terms of gold owned,” meaning China may have responded as well.