Central banks around the world expect their gold holdings as a proportion of their reserves to increase over the next five years while expecting their dollar reserves to be lower, a survey by the World Gold Council (WGC) showed. Gold demand from central banks has risen significantly over the past three years despite its price rally to consecutive records.

https://www.reuters.com/business/central-banks-favour-gold-over-dollar-reserves-wgc-survey-2025-06-17/