💡 XAUUSD: Expected to reach a shocking peak in the near future
Central bank gold purchases have “surged to record levels” in recent years, as regulators seek to diversify reserves and reduce credit risk.
China and Russia are leading gold purchases, while India, Türkiye and Brazil are also increasing bullion imports in large quantities.
Citi Bank experts said: “The most likely path to $3,000/ounce of gold is the rapid acceleration of an existing but slowly developing trend - de-dollarization of banks. central banks in emerging markets, thereby leading to a crisis of confidence in the US dollar.
China and Russia are leading gold purchases, while India, Türkiye and Brazil are also increasing bullion imports in large quantities.
Citi Bank experts said: “The most likely path to $3,000/ounce of gold is the rapid acceleration of an existing but slowly developing trend - de-dollarization of banks. central banks in emerging markets, thereby leading to a crisis of confidence in the US dollar.
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