Central Banks Step Up Gold Purchases Despite Record-High Price

Central banks accelerated gold purchases in the third quarter, as several returning buyers braved record-high prices to bet on bullion’s value as a hedge against a vulnerable US dollar.

By Preeti Soni, Sybilla Gross · Bloomberg Markets

Central banks accelerated gold purchases in the third quarter, as several returning buyers braved record-high prices to bet on bullion’s value as a hedge against a vulnerable US dollar.