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Roger Gomis
- 11 June 2025
- THE INTERNATIONAL ROLE OF THE EURO - BOXThe international role of the euro 2025Details
- Abstract
- The box examines gold demand by the official sector and its relationship to geopolitics. In 2024, gold prices reached historical highs while central banks accounted for over 20% of global gold demand in 2024, in contrast to around one-tenth in the 2010s. Empirical evidence suggests that both diversification and geopolitical hedging purposes drive central banks’ demand for gold.
- JEL Code
- E58 : Macroeconomics and Monetary Economics→Monetary Policy, Central Banking, and the Supply of Money and Credit→Central Banks and Their Policies
F31 : International Economics→International Finance→Foreign Exchange
F33 : International Economics→International Finance→International Monetary Arrangements and Institutions
F51 : International Economics→International Relations, National Security, and International Political Economy→International Conflicts, Negotiations, Sanctions