Some investors have a growing alertness to the new world order. This new world order includes mistrust in banks, high and stubborn inflation, and a growing global divide on reserve currencies.
The rush to gold (GCQ23)(GLD) by certain investors is being mirrored by many of the world's central banks. Last year, central banks bought 1,079 metric tons of bullion. . . that's the most since records began in 1950!
As a result, gold recently hovered close to its all-time high of $2,072 per troy ounce. Although it did back off recently as the investor rush into anything AI-related put it on the back burner. 

For thousands of years, gold has been a safe haven in times of turbulence, and that is no less true today.

Think about it – the pandemic, the war in Ukraine, geopolitical tensions, inflation fears, mounting global debt, rising interest rates, and perhaps a U.S. banking crisis have all prompted investors to re-evaluate safe-haven assets. Gold has been the beneficiary.

Let's take a closer look at central banks' huge move into gold.

Central Banks' Move Into Gold

The latest annual poll of 83 of the world's central banks, which manage a combined $7 trillion in foreign exchange assets, was noteworthy, to say the least.

It found that more than two-thirds of respondents thought their peers would increase their gold holdings in 2023. That follows on from 2022 when the amount of gold bought by central banks rose by 152% year on year in 2022 to 1,136 metric tons, according to the World Gold Council (WGC).

Their figures show many of the purchases made over the past year were made by central banks in countries that are not aligned with the U.S. As Sebastien de Montessus, CEO of EndeavourMining(EDVMF),  said recently: “Gold has become progressively geopolitical.”The People’s Bank of China bought 62 tons of gold in November and December 2022, lifting its total bullion reserves above 2,000 tons for the first time. Turkey’s official gold reserves rose by 148 tons to 542 tons in 2022. States in the Middle East and Central Asia were also listed by the WGC as “active buyers” of gold last year.

The buying surge has continued into 2023. Central banks accumulated gold at the fastest pace on record in the first two months of 2023, according to a report by the World Gold Council. In January and February, central banks collectively bought a net 125 tons of the metal, the highest amount for the year-to-date period since central banks became net buyers in 2010.