As gold prices surged more than 230% since 2020, central banks around the world launched one of the largest gold-buying waves in modern history. For many countries, bullion became more than just a hedge—it became a strategic reserve asset amid rising geopolitical tensions, currency volatility, and growing efforts to diversify away from the U.S. dollar. Yet not every nation followed the same playbook: some were accumulating gold aggressively, while others were trimming reserves. This chart, via Visual Capitalist's Niccolo Conte, ranks the…