Posted on 11/07/2022 3:38:36 PM PST by RomanSoldier19
Central banks globally have been accumulating gold reserves at a furious pace last seen 55 years ago when the U.S. dollar was still backed by gold.
According to the World Gold Council (WGC), central banks bought a record 399 tonnes of gold worth around $20 billion in the third quarter of 2022, with global demand for the precious metal back to pre-pandemic levels.
Retail demand by jewelers and buyers of gold bars and coins was also strong, the WGC said in its latest quarterly report.
WGC says that the world's gold demand amounted to 1,181 tonnes in the September quarter, good for 28% Y/Y growth. WGC says among the largest buyers were the central banks of Turkey, Uzbekistan, Qatar and India, though other central banks also bought a substantial amount of gold but did not publicly report their purchases.
The Central Bank of Turkey remains the largest reported gold buyer this year, adding 31 tonnes in Q3 to bring its total gold reserves to 489 tonnes. The Central Bank of Uzbekistan bought another 26 tonnes; the Qatar Central Bank bought 15 tonnes; the Reserve Bank of India added 17 tonnes during the quarter, pushing its gold reserves to 785 tonnes.
(Excerpt) Read more at oilprice.com ...
Yup, you can tell by how gold keeps going down
cheap to do
JPMorgan set to pay $1 billion fine for metals market manipulation
https://nypost.com/2020/09/23/jpmorgan-set-to-pay...
My valuable metals are Brass & Lead.
💪👏👏👏👏
Gold futures up the last few days but still stuck in the 1600s. They were supposed to be north of 2000 by now. The “experts” are stumped.
I’d go with silver right now but if you have large amounts to invest in hard assets, some gold is a good idea.
Gold has been soft and sliding for quite some time now. Assuming these purchases are more or less accurate one has to wonder who’s selling? I’ve thot for awhile that some of the dirtbag countries, with economy problems, like Oh, say, Venezuela, Russia, Syria,Cuber, and a few others, have been dipping into reserves to stay afloat. Gotta be somebody selling?
Phew....good thing I got mine when it was at record lows :-)
They get gold. We get 001001001110010010 - digital bullshit
I can see why Turkey bought so much gold: they’ve ruined the lira and its inflationary spiral is now at 85%.
“Therefore our calculation will be something like this:
254,296 tonnes × 1000kg × 1000 gm × 53.88 USD
The value is slightly above 13.7 Trillion USD”
How can gold be a money when its total value is
is like 4.5% of the worlds debt?
(13.7/300).
Delusional.
...and copper... need copper for the jackets.
Gold & Silver Ping List!!
Bet Parker and Tony will be happy.
YES!
I’m a fan of silver, myself. Gold is good if you can afford it, but I’d be happy with more silver.
Gold was $200-$300 range back in 2000-2001. Sitting now around $1675.00. I’d say it’s holding it’s own.
I’ve been dumping my gold over the past two years, but I’m keeping the silver until the last Socialist is hung!
This is what Dad & Grandpa told me to do with our investment, ‘in the future.’ Both have now passed. I am now in the future, following their advice.
How I miss them both! *HEART*
+1 to that…
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