Yowza! 2022 Breaks Record For Central Bank Gold Buying
EDITOR'S NOTE: In 2018, we saw central bank gold buying nearly exceed record levels set 50 years prior. Right now, 2022 set the record for the largest gold purchases EVER by central banks, according to the World Gold Council. The only thing that would prompt such a phenomenon would be a series of aligned outlooks forecasting changes of a severe magnitude. The general public seems to be unaware of this ominous undercurrent, yet the information is publicly available. If there was ever a time to begin contemplating increases in your own personal gold reserves, now’s the time. If you’re looking to hedge against what the world’s central bankers see coming, do it now before it’s too late.
In a report issued at the end of January the WGC said central bank gold buying in 2022 was the highest in decades.
They've now issued a correction:
- Update as of 7th February 2023: following a correction to the historical data from 1950-1969, Gold Demand Trends has been amended to report that 2022 was a record year for annual central bank buying. Previously, 2022 had been reported as the second-highest year on record.
Sources: Metal Focus, Refinitiv GFMS, World Gold Council
Yowza!
Originally published by: Eamonn Sheridan on ForexLive
