According to the World Gold Council, in 2022, global central bank annual gold demand reached 1136 tons, more than double the previous year's 450 tons, setting a new high in 55 years. In the fourth quarter of 2022 alone, global central banks purchased 417 tons of gold, and the total amount of gold purchased in the second half of the year also exceeded 800 tons.

Market analysts point out that the risk of global economic recession is increasing, and the hedging effect of gold can stabilize asset values. The risk of sovereign debt default in some emerging markets is also increasing. The super sovereign credit function of gold can help foreign exchange reserves hedge against these risks.

Data shows that Türkiye is the largest buyer of gold in 2022. Türkiye bought 31 tons of gold in the third quarter of last year alone, and its gold reserves increased to 489 tons. Since the beginning of the year, Türkiye's gold reserves have increased by 95 tons.

The Central Bank of Uzbekistan has also continued to increase its gold reserves this year, purchasing 26 tons of gold in the third quarter. The central bank of the country has also been continuously purchasing gold in the past two quarters, with a net buying volume of 28 tons so far this year.

The Central Bank of Qatar was another important gold buyer in the third quarter. In July, the Qatar Central Bank purchased 15 tons of gold, setting its largest monthly purchase volume since its own record.

According to a survey report by the World Gold Council, 25% of surveyed central banks have stated that they will increase their gold reserves in the next 12 months. In fact, central banks around the world are also implementing gold purchase plans. The World Gold Council also stated, "It is unlikely that central bank purchases will reach the level of 2022 in 2023