Central Bankers Reaffirm Support for Gold Reserves as Bullion Holds Above $4,000

Gold prices have maintained support above $4,000 per ounce as official sector demand and retail investment decouple bullion from rising bond yields. Speaking at the LBMA conference in Sorrento, central bankers including Deutsche Bundesbank President Joachim Nagel emphasized that mounting government debt, geopolitical fragmentation, and sanctions risks reinforce bullion's strategic reserve role. Gold's share of global central bank reserves expanded from roughly 14% in 2023 to nearly 25% today. Although Metals Focus projects central bank purchases to moderate 15% year-on-year to 720 metric tons in 2026, structural demand continues to underpin the market.