Central Bank Demand for Gold Set to Strengthen

Activist Post ^ | 6/17/22

[BusterDog]

The explosion in retail demand for gold has made headlines, but retail investors aren’t the only ones steadily stockpiling the yellow metal.

Central banks around the world are stockpiling gold in a big way – and appear poised to do so even more.

According to a recent central bank survey conducted by the World Gold Council, gold remains a favorable reserve asset globally.

[BusterDog]

I wanna know where da gold . . . .

https://www.youtube.com/watch?v=bZfyrIPw3wY

[Pollard]

So the Central Banks are stacking gold before they force digital currency on the rest of us.

[rellic]

I fail to understand why gold is so valuable?
I don’t want.
I cant do anything useful with it.
I know most people are idiots, but what good is gold outside
industrial uses?

[SteveH]

gold is at 1838/1839 / oz right now

https://www.kitco.com/charts/livegold.html

i am moderately invested in physical gold as an inflation hedge. it has not appreciably budged in the last 8 months or so. perhaps someone is gating the supply via mining production (for whatever reasons)? i have expected the price to go up by now but it has not. so i wonder where the inflation safe haven is nowadays.

[Sirius Lee]

Nooooooo.....it’s a barbaric relic. All the folks who insist that they’re smart said so.

[packagingguy]

Gold is not as useful an industrial metal as platinum, palladium and silver. You can invest in those.

Just this morning I was looking at the abundance of different types of metals and if they are mined in the USA. Reason is there is not enough gold to go around—this was the problem which in part set off the American Revolution. We had tobacco, pine tar, cotton and the like but very little gold, which was needed to pay taxes.

Economists say the same holds today, there just isn’t enough gold to be used universally.

It looks like if a country kept different types of metals like tungsten, palladium, platinum, molybdenum and so forth in stockpile you would have a more evenly distributed investment portfolio which can never have a value of zero. Unless humans went extinct.

[Right Brother]

It is a store of value, not an investment in the traditional sense. When I bought a basic Honda civic brand new in 1978, gold was a little bit above $220/oz. Today a basic Civic is $32,000 and gold is about $1850/oz. Do the math. Beats putting cash in a mattress. :)

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[rottweiller_inc]

Lol they wanna close the barn door after the horses have run away and died of old age. What they really want is to try to have something solid to back up a new currency after they thoroughly destroyed any kind of faith and trust in fiat money. It’s way too late for that.

[SteveH]

maybe the next step will be announcing the availability of digital currency followed by a combination bank holiday and an mandatory conversion. after that would come a devaluation of the digital currency (a la a classic latin american currency devaluation).

these would be staged so that they could all be blamed on various convenient scapegoats of the moment, eg Russians, Republicans, etc.

We have about 15 years until Social Security implodes, so a little bit before then might be the timeframe.