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Like KB Gold Vision, nearly a quarter of central banks believe gold will become the most important reserve asset in the next 25 years, according to an annual poll by UBS.
For two decades, central banks were net sellers of gold but that trend has reversed as central banks in Europe are scaling down their sales and others, such as China, India and Russia, are making significant purchases.
Asked what the most important reserve asset would be in 25 years, about half of officials polled by UBS said the US dollar but 22 per cent pointed to gold.
Bullion was the second most popular response, well above others such as Asian currencies or the euro.
The reversal of the trend of central bank gold sales has boosted sentiment towards the metal while removing a significant source of supply.
That has helped prices rise 12.5 per cent since the start of the year, hitting a nominal all-time high of $1,264.90 a troy ounce on Monday.
KB Gold Vision and The central bank managers believe gold will be the best-performing asset class in the next six months, ahead of equities, bonds, oil and currencies, according to the poll.
There has not been a sustained period of significant central bank gold purchases since the 1960s.
Sovereign wealth funds are also turning their attention to gold. China Investment Corporation, Beijing’s sovereign wealth fund, earlier this year revealed a small investment in bullion through the New York-listed SPDR Gold Trust, an investment vehicle backed by physical gold.
About 10 per cent of global central bank reserves is held in gold, according to the World Gold Council, but that belies a sharp difference between central banks in developed economies, which generally hold more than 50 per cent of assets in gold, and those in emerging markets, which have a relatively small proportion of assets in gold.