Coming back into fashion:
Two main factors may explain recent increase in gold purchases by central banks. First, gold is viewed as a safe haven and desirable asset during times of economic, financial, and geopolitical uncertainty as well as a portfolio diversifier. Second, gold is seen as a safe asset when countries are subject to financial sanctions and asset freezes. Skeptics, however, point > to drawbacks in reliance on gold, including its cost to transport, warehouse, and secure and its lack of interest. Despite these disadvantages, gold remains a popular asset for central banks due to its historical track record and the well-regulated markets for trading.
Almost $2,200 an ounce 
