Open the list of ‘Thai’, ranked in the top 10 worlds, buying ‘gold’ the most in 2009-2021

Information from the World Gold Council ondemand for goldof central banks around the world during the 30-year period, or from 1992 to 2022, found that there was a clear change ingold purchase policyof the government of each country following birthTom Yum Kung Crisis” in the year 1997 and “global financial crisis” During the year 2007-2008

in the late 90s central bankMany places around the world aregold net seller” (selling rather than buying) among the conditionsmacro economystable andgold pricewithin rangedowncontinuously

Until the year 2010 thosecentral banktherefore turned to begold net buyer”(bought more than sold) each year up to the present

• “Thai” bought 168 tons of gold in 22 years.

The International Monetary Fund (IMF) has ranked the top 10 countriesCentral banks buy the most gold since the end of 1999-2021. found that “Thai” buygoldHighest ranked 8th in the world total 168 tons, representing 2% ofgoldtotal purchases during those 22 years

whileTop 3 Gold Buyers Between the years 1999-2021 are Russia (1,888 tons) China (1,552 tons) andTurkey (541 tons), respectively.

In addition, purchasegoldof the country in the top 10 included at 5,623 tons, representing 84% of all the gold these banks bought during the period.

• Why should central banks buy gold?

goldplays an important role ininternational reservesof different countries, with three main reasons that thosecentral bankmustholding gold as follows

1. Balancing International Reserves

central bankCountries holdgoldas part ofreservetheir own in order to manage the risk of holdingcurrency and enhance stability in the event ofeconomic turbulence

2. Hedge once morest currency risks and maintain purchasing power in the global market.

goldReduce the risk ofpurchasing powerof their own currency in the world market, which is decreasing according to various currencies (mainly US dollar) results frominflation

3. Diversify your portfolio

goldIt has the opposite relationship with money.US dollar when the value of moneydollarreduce gold pricetends to increase which protects the central bank fromvolatility

World Gold Council data also states that in 2022, central banks around the world boughtgoldthe highest in history 1,136 tons worth approximately $70 billion which is considered a paradebuy goldfastest among central banks since 1967 amidinflationhigh and side uncertaintygeopoliticsnow

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refer: VisualCapitalist