The World Bank – Gold Investing Handbook for Asset Managers

The World Bank's Gold Investing Handbook for Asset Managers highlights the historical significance of gold as a financial asset, from being used as currency in ancient civilizations to its role as a hedge against inflation and a reserve asset for central banks in the modern era. The evolution of gold's use in financial systems, including the abandonment of the gold standard in the 20th century and its resurgence in recent years, is discussed. The handbook emphasizes the increasing importance of gold as a safe haven asset during times of economic uncertainty and its role in investment portfolios. It also addresses the growing interest in responsible sourcing and use of gold due to environmental, social, and governance concerns. The text underscores the strategic importance of gold as a buffer against financial instability, influenced by market disruptions such as the Global Financial Crisis, trade tensions, Brexit, and the COVID-19 pandemic. Additionally, shifts in central banks' sentiment towards gold as a reserve asset are noted, with many expecting global gold reserves to increase in the coming year.