neardayThe World Gold Council reported that the amount of gold purchased by Thailand for international reserves is determined byFrom 152.41 tons in 2013 to 244.16 tons at the end of 2022, gold reserves have increased by 60.2% in the past 10 years, ranking second in the Asian region, second only to China. Among them, Thailand's demand for gold has increased by about 50% every year, and Thailand's gold reserve is nearly three times that of Indonesia in the same period.

The World Gold Council stated that the increase in gold demand in multiple regions around the world this year is due to the recovery of the economy after the epidemic. Nevertheless, there are still many uncertainties that have led to a significant impact on the purchasing power of funds and central banks this yearGold priceProduce significant impact. In addition, it is expected that central banks around the world will purchase more gold as reserves this year.

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Gold is usually considered the most valuable metal in the world for two main reasons.

One reason is that gold is very scarce and pure natural cannot be artificially made. The gold element on the earth comes from the collision of neutron star sized objects. According to scientists' estimates, the gold content on the earth is about one billionth of the earth's mass, and most of it is located in the core of the earth. After billions of years of sedimentation and evolution, the gold element in the Earth's core was carried to the Earth's crust, and the shallow gold on the surface was weathered to form a gold sand mine. And scientists have confirmed that as of now, gold cannot be artificially synthesized.

The second is the historical reason. For a long time, gold has been regarded as a symbol of identity, a hard currency in commodity transactions, and a general equivalent recognized by the international community. After World War II, gold was even directly linked to the currency, becoming a globally recognized way of saving wealth.

Therefore, gold is not only an important material in the jewelry industry, electronics industry, modern communication, aerospace and other fields, but also a special currency used for reserves and investments.

The main purpose of central banks around the world to purchase gold is also to strengthen monetary stability and resist economic risks. Gold has a universal acceptance and liquidity worldwide, and as a relatively stable safe haven asset, it has become the preferred choice for central banks to increase reserves. It can not only help central banks maintain monetary stability, but also provide more credit guarantees, improve the credit level of central banks, enhance financial market confidence in central banks, and resist economic risks caused by factors such as war and inflation.

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Since 2010, Block trade in the gold market has been dominated by institutional investors such as the central bank and exchanges. The latest data shows that by May 2023, the global central bank's gold reserve has reached 35000 tons, a record high. Among them, Russia, Türkiye, India and other countries have witnessed the most significant growth in the scale of gold reserve.

In the Asian region, China and Thailand have seen the most significant growth.

According to the World Gold Council, China's gold holdings have increased by 91% in the past decade. The amount of gold used for international reserves in Thailand has increased from 152.41 tons in 2013 to 244.16 tons by the end of 2022, with a 60.2% increase in gold reserves, ranking second in the Asian region, only behind China, and nearly three times the reserves of Indonesia during the same period.

The World Gold Council stated that the increase in gold demand in multiple regions around the world this year is due to the recovery of the economy after the pandemic, as well as the impact of the Russia Ukraine war and rising global inflation. In addition, the association predicts that central banks around the world will purchase more gold as reserves this year.

The authoritative experts in the industry said that increasing gold reserve not only means economic growth, but also means improving the ability to resist risks. Most countries in Southeast Asia rely on imports for their economies and are greatly influenced by external markets. Saving gold is undoubtedly a way to ensure economic stability.