TOKYO -- Gold buying by central banks reached its highest level in 55 years, data released Tuesday shows, as the freezing of Russia's dollar assets spurred countries to seek alternatives less vulnerable to economic sanctions.
Commodities
Gold snatched up by central banks at fastest pace in 55 years
China and Turkey among big buyers as dollar's dominance fades
Many central banks bought gold to counter sanctions-related risks and as an inflation hedge. (Photo by Masaru Shioyama)
Read Next
Latest on Commodities
