Central banks are boosting stockpiles of gold in their reserves amid a backlash against the dollar

• Central banks boosted their gold stockpiles amid a backlash against the dollar.
• Global reserves grew by 228.4 tons in the first quarter, the World Gold Council reported.
• The top gold buyers were central banks in Singapore, China, Turkey and India.

Central banks around the world are boosting stockpiles of gold amid a growing backlash against the dollar.

In the first quarter, 228.4 tons of gold were added to global reserves, the World Gold Council reported on Friday. While that marks a 40% decline from the fourth quarter, it's a 176% increase from a year ago.