Emerging markets go for gold

The demand for gold from emerging market central banks surged in 2018, while India, China, the Middle East and Turkey continued to consume the bulk of jewelry

Andrew Willis 30 April, 2019 | 2:00PM

Note: This article is part of Morningstar Canada's Emerging Markets Week Special Report

Emerging market economies continue to grow, despite facing heightened geopolitical and economic uncertainty. Perhaps to combat this uncertainty, their banks stock up gold reserves. 

Russian gold reserves rocketed up by 274.3 tonnes in 2018, according to the World Gold Council, the highest annual net purchase on record, and with Kazakhstan, Turkey and India took up more than half of total global purchases.

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Andrew Willis

Andrew Willis  Andrew Willis is a content editor for Morningstar.ca.

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