Gold demand trends: central banks surge, investors drop, India hits low.

Central banks' demand for gold hit a record high in Q1 2022, with 228 tons added to global reserves, the highest rate of purchases seen in a first quarter since the data series began in 2000. The World Gold Council's quarterly Gold Demand Trends report showed that demand (excluding over-the-counter) was down 13% in the first quarter from the same period last year, though base effects were in play as demand spiked that quarter as investors fled risky assets following Russia's invasion of Ukraine. The report also showed that investments in gold surged in March after the collapse of Silicon Valley Bank, the first of what has become a series of failures in the U.S. banking system among regional institutions exposed by higher interest rates.