Central bank gold buying hits highest level since World War II

Central banks have been buying up gold at a rate not seen since World War II as recession fears rise, according to the World Gold Council (WGC). Central bank net purchases reached 651.5 metric tons in 2018, 74% higher than in the previous year when 375 tons were bought. The WGC has estimated that central banks now hold nearly 34,000 tons of gold. A broad combination of factors have led to gold's resurgence, according to the research firm Bernstein. They include geopolitical risk, concerns about government debt, supply issues, and the perception that gold gives better returns over othe...