World central banks' net gold purchases set a new record in ...

World central banks' net gold purchases set a new record in Q1 2024.

Global central banks bought 290 tonnes of gold in the first quarter above the previous all-time high of 286 tonnes seen in Q1 2023.

Purchases were led by Turkey, China, and India putting us on track for another record year.

Meanwhile, gold prices are up by more than 11% year to date and 25% since October.

Central banks are piling into gold while calling for a "soft landing."

Something doesn't add up here.