- Gold prices surpassed $2,000 per ounce, nearing record highs.
Central Banks added 228 tons to global reserves, the highest rate of purchases for a first quarter since 2000.
- The Monetary Authority of Singapore, the People’s Bank of China, and Turkey’s central bank were among the largest buyers.
Why it matters: The news highlights several key concerns for US citizens.
- This rising demand for gold by central banks highlights global economic uncertainty which could affect job security, investment portfolios, and overall financial stability of many Americans.
- The surge in gold prices is often seen as an indicator of inflationary pressures.