Georgia’s central bank buys $100m more gold
The National Bank of Georgia purchased an additional $100m in gold, lifting reserves to a record $7bn.
This move is part of a larger global trend, with central banks buying over 970 tons of gold in the first quarter alone.
Central bank gold demand exhibits low price sensitivity, supporting the stability of the gold price floor.
Global tensions, including the Ukraine and US-Iran conflicts, are driving the demand for gold as a safe haven asset.