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Why Central Banks Are Buying Gold Again
Description
Central banks around the world have been net buyers of gold for fifteen straight years, but the pace accelerated dramatically in 2022 and hasn't let up. In this episode, Lucas and Luna dig into the numbers: over 1,000 tonnes purchased in 2023 and 2024 combined, concentrated in central banks from China, Poland, Turkey, and India. They explore the logic behind the shift — diversification away from US dollar reserves, geopolitical hedging after sanctions on Russia, and the signal it sends about long-term trust in fiat currencies. Lucas explains why gold's role in reserve management has changed: it's no longer a relic but a tactical asset for de-dollarization. Luna pushes back on whether gold holds up in a liquidity crisis, and they land on what the buying spree means for ordinary investors in 2026. Specific, data-driven, and grounded in a real policy trend.