https://www.gold.org/goldhub/gold-focus/2022/01/central-banks-slide-net-sales-november Uzbekistan's head banker explains why his country sees value in holding gold: https://www.gold.org/goldhub/gold-focus/2021/10/central-bankers-perspective-role-gold-uzbekistan Contrast that with the position of most of the high income Western nations where economic stability is drawn from faith in the political/financial systems. That is they don't need to hold substantial amounts of gold to implement monetary policy, support the exchange rate, install confidence in others, settle international transactions and protect the economy from shock or disasters.
Governments probably had to sign over their gold years ago by now with all this debt. It only switches hand and locations as the central banks wish. Uzbekistan is a perfect example of a broke ass no gold having country haha.
Some data from the World Gold Council on the purchases/sales of gold by Central Banks. The total for each year is the net amount ie purchases-sales. Not all CBs buy gold, chiefly the rich Western nations are not adding to their reserves with the exception of Singapore, Ireland and France with Ireland purchasing for the first time in 2021 since the data was kept in 2002. As you can see those CBs participating in sales/purchases are overall net purchasers for the year: 2019 +707.7 Tonnes 2020 +263.8 Tonnes 2021 +373.4 Tonnes
