**Gold Rush: Central Banks Stockpile Record Reserves in 2024**

Central banks worldwide are on a gold-buying spree, setting a new record with 483 tonnes purchased in the first half of 2024. This marks a 5% increase from the previous record of 460 tonnes in H1 2023. Major buyers include the National Bank of Poland, the Reserve Bank of India, and the Central Bank of Turkey.

Poland's central bank aims for gold to make up 20% of its reserves. Experts suggest countries like China, India, Russia, and Saudi Arabia are shifting away from Western assets, favoring gold as a stable reserve.

Gold's value has surged 23% year-to-date, outpacing the S&P 500's 18% gain. Bitcoin, despite a 22% drop from its March high, has still risen 37% in 2024.

Gold prices hit an all-time high of $2,525 per ounce on Aug. 27, but central banks remain cautious about cryptocurrencies.