Silver Rises Over 120% YTD 
Central banks have been slowing their gold purchases recently, with buying dropping 33% quarter-on-quarter in early 2024, partly due to reduced purchases from major buyers like China. However, experts don’t expect this trend to signal a permanent decline.
The weakening faith in the U.S. dollar as the primary reserve currency is driving continued interest in gold, with sanctions prompting countries to seek alternatives to dollar assets.
Gold has already surpassed the euro to become the second-largest global reserve asset in 2024 and is up over 25% for the year. Despite the recent slowdown, analysts believe ongoing economic uncertainty, inflation concerns, and geopolitical risks will keep central banks interested in gold as a portfolio diversifier.
The limited supply of gold combined with sustained institutional demand suggests prices may continue trending upward, even if the pace of purchases moderates from recent highs.
