MarketVectorsYang globalcurrency gold Gold's utility as a global currency will support prices in 2023 - MarketVector's Yang
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Yang said that in this environment, it's not surprising that investors have shied away from the precious metal this year. She added that she doesn't see it as investor apathy but more as hesitancy. Official sector demand remains unquenchable; last week, the World Gold Council reported that central banks bought another 31 tonnes of gold in October. The WGC noted that global official gold reserves total 36,782 tonnes, their highest level since November 1974.
In the last few years, unprecedented demand for digital currencies like Bitcoin had a substantial impact on gold as some investors saw cryptocurrencies as a better store of value.
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