As economic uncertainty and geopolitical tensions rise, governments worldwide are quietly buying more gold, a sign they are preparing for an uncertain future. A new World Gold Council survey found that 89% of central banks expect global gold reserves to grow over the next year, with a record 45% planning to add to their own holdings.

Why Gold?

Gold has long been considered a safe place to put money during times of war, market turmoil, and high inflation because it isn’t tied to the economy or policies of any one country. Central banks are now adding gold to their reserves as a hedge against inflation, global instability, and economic turmoil.

According to the survey, about 90% of central banks said gold’s performance during times of crisis is one of the main reasons they hold it. Another 84% cited its role as a long-term store of value and inflation hedge, while 83% said it helps diversify their reserves.

Global Buying Spree

While China has received much attention, it isn’t alone in buying gold. Central banks around the world, including Poland, Uzbekistan, Kazakhstan, the Czech Republic, Chile, Jordan, and Ghana, have been steadily increasing their gold reserves.

The United States still owns more gold than any other country, but much of today’s buying is coming from developing economies looking to rely less on foreign currencies they don’t control.

The same concerns driving governments to buy gold are also attracting individual investors. Instead of cashing in, both investors and many central banks are holding on to or building their gold positions, a sign that they see gold less as a short-term investment and more as long-term financial insurance in an increasingly unpredictable world.

Original reporting: Fox News (HLL/CB) — read the source article.