Central banks are repatriating gold and are gradually reducing dependence on external deposits.

More and more central banks, including the Bank of England and the Federal Reserve Bank of New York, are choosing to hold and keep their gold reserves in their own countries, according to a survey conducted by the World Gold Council. This trend reflects a desire to reduce dependence on traditional foreign storage centers, in the context of geopolitical and economic risks.

The survey, conducted between February and May, involved 74 central banks and showed that nearly 90% of respondents expect an increase in global gold reserves over the next 12 months. Additionally, 45% of banks intend to increase their gold stocks, while only 1% anticipate a reduction. This change is influenced by the deterioration of geopolitical relations, especially after Russia's invasion of Ukraine, which raised questions about the accessibility of external reserves during periods of political tension.

Experts estimate that central banks will continue to buy between 750 and 1,000 tons of gold this year, which will support the stability of the gold market, which is currently trading around $4,360 per ounce.