To: DesertRhino
Last year, the central banks deputy head, Dmitry Tulin, told lawmakers that while gold prices may fluctuate, its a 100% guarantee against legal and political risks. Russia is hardly alone in making that observation. Globally central banks have markedly increased their purchases of gold over the last decade. Last year saw the biggest buying by central banks since 2015 as more developing countries worked to increase their reserves. Russias central bank likely bought around 270 tons of gold, more than a third of global purchases, making it by far the worlds biggest buyer of the metal, according to Junlu Liang, a senior analyst at Metals Focus, a London-based consulting firm. Russia will likely remain a major gold buyer given mine production that helps it buy on the domestic market, she said.
10 posted on
02/08/2019 12:46:22 PM PST by
DUMBGRUNT
("The enemy has overrun us. We are blowing up everything. Vive la France!")
To: DUMBGRUNT
"Globally central banks have markedly increased their purchases of gold over the last decade. Last year saw the biggest buying by central banks since 2015 as more developing countries worked to increase their reserves." Thus bolstering the view that precious metals are the only real money.
17 posted on
02/08/2019 2:14:51 PM PST by
Windflier
(Pitchforks and torches ripen on the vine. Left too long, they become black rifles.)
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