Schiff Gold: Central Bank Gold Buying Sets First Quarter Record
After a record-setting 2022, central banks continued to buy gold in the first quarter of 2023, setting a new Q1 record.
Overall, global central bank gold reserves increased by 228 tons through the first three months of 2023. This was 38% higher than the previous first-quarter record set in 2013.
Total central bank gold buying in 2022 came in at 1,136 tons. It was the highest level of net purchases on record dating back to 1950, including since the suspension of dollar convertibility into gold in 1971. It was the 13th straight year of net central bank gold purchases.
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Update #1: Central banks are boosting stockpiles of gold in their reserves amid a backlash against the dollar (Insider)
Update #2: Central Bank Gold Buying Off To A Record-Breaking Start In 2023, Led By Singapore (Zero Hedge)
WNU Editor: You have to wonder what do the Central Bankers know that we do not.
3 comments:
Because e-currency wouldn't work very well without electricity. That's why.
(they probably already know that were going to be without internet for a while)
Editor,
Exactly!
These are the same guys that a few years ago said that gold was not real money and doubled down on the“barbarous relic" canard.
Seems like they are changing their minds now.
These guys aren't dumb, greedy yes, but not dumb. WHen things go bad, banks turn to gold.
I GUESS THINGS ARE GETTING BAD, EH?
Good point. Infrastructure warfare is in its early stages, will evolve and get worse over time. Bought an extra propane tank last week and got two bug out bags in the truck. Almost can’t wait for the mad max days
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