U.S. Markets closed

Why the World's Central Banks Are Going Gaga Over Gold

Simon Constable

Central banks are going gaga over gold. Over the 12 months through March 31, they purchased a whopping 715.7 metric tons of gold bullion worth around $29.4 billion, according to a recently published report from the industry group World Gold Council. "In all likelihood, we expect another strong year," says Alistair Hewitt, director of market intelligence at WGC in London.