RIYADH: Gold is becoming an increasingly deliberate component of central bank reserve strategies as geopolitical tensions, concerns over the concentration of assets in the US dollar, and questions surrounding the resilience of traditional holdings reshape official-sector thinking, analysts told Arab News.
Their comments came after a World Gold Council survey revealed a record appetite among reserve managers to increase bullion holdings, underscoring gold’s growing role as a strategic asset in an evolving global economic landscape.
For the Gulf, the findings land at a sensitive moment. The region remains anchored to the dollar through currency pegs and energy trade, but policymakers are also navigating oil-price swings, tighter global liquidity and heightened geopolitical risk.
Ahmed Azzam, head of market research at Equiti Group, told Arab News that the WGC’s 2026 survey should not be read as evidence that central banks have only recently discovered gold’s strategic importance.
“The World Gold Council’s 2026 survey does not tell us that gold has suddenly become a strategic asset for central banks. That shift has already been visible for several years, especially since the sharp acceleration in official-sector buying after 2022,” he said.
