The Financial Post reports in its Thursday edition that a record share of the world's central banks plans to increase gold reserves over the next 12 months, influenced by gold's crisis performance and inflation protection. A Bloomberg dispatch to the Post reports that in a survey of 72 monetary authorities, 43 per cent expect to grow their gold holdings, up from 29 per cent last year and the highest in eight years. None anticipate a decline. Central banks have significantly driven the gold rally, which has seen prices double since late 2022, especially after the Ukraine invasion highlighted bullion's appeal as a reserve asset. WGC's Shaokai Fan says: "There are some pretty big moves in some of these numbers. Western countries have stopped selling and emerging market countries have started buying, they're catching up and building more gold reserves." The overwhelming majority of respondents said they thought central bank gold reserves would increase globally over the next 12 months. The most commonly cited relevant factors for holding gold were its performance during crises, its role as a portfolio diversifier and a store of value. Central banks have been mopping up more than 1,000 tons for each of the last three years.