MOSCOW, May 29. /TASS/. Developing countries started catching up the developed ones by the share of hold in their reserves and the gold demand from the side of global central banks will remain and serve as a driver for the precious metal price, Senior Analyst at the Center of Economic Forecasting of Gazprombank Darya Tarasenko said at the Creon Gold conference.

"We had this change of the global paradigm in 2022 and central banks of developing countries exactly started catching up with their gold reserves missed. If we look at shares of reserves, developed countries in average had the gold share of 30%, while developing countries had it as 20%," the expert said.

Developing economies will need to buy 11,000 metric tons of gold to draw level with developed countries at least by the share in reserves, Tarasenko noted. "It means the demand of central banks of developed countries will remain high for gold and this will be the price driver further on," she added.