Central Banks Buy the Most Gold Since London Gold Pool Collapse in 1968.

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1st three minutes the news topic, SD Bullion Contest, and then general gold new the rest of the video:

I do like his relationship of money, silver , and the Superbowl at the end (Bread & Circus Event)
 
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pmbug said:
www.kitco.com

Central banks continue to scoop up gold in 2023 as gold price holds the mid-$1,800 level

www.kitco.com
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The TBTF banksters are manipulating the prices ( gold & silver) until the last minute they can't.
No other reason for these low prices. They want all their bank buddies, Gov cronies to get what they can until the walls fall down.
If banks are buying then people should be buying too . Can't buy gold buy silver. It will work better than CBDCs, and less control by elites.
 
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... A key theme among analyst presentations and comments on the floor during the 2023 annual Prospectors & Developers Association of Canada has been the People's Bank of China's new foray into the gold market.

Wednesday, quoting updated reserve data from China's central bank, Krishan Gopaul, senior European, Middle East, and Asian markets analyst at the World Gold Council, said the country bought 24.9 tonnes of gold in February. ...
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www.kitco.com

China's central bank puts the world on notice as it buys more gold; analysts at PDAC expect this is only the start of a new trend

Kitco News' general-interest stories takes a look at what is making headlines in the marketplace and how that is impacting precious metals prices
www.kitco.com

No word on how much of that is the Perth Mint gold that the SGE is complaining about...
 
Nobody knows what is going to happen from day-to-day with the clowns running the show. I don't trust sushi from a gas station or government officials.
 
CiscoKid said:
What idiots. Gold is nothing but a "barbarous relic". I mean, you can't eat gold. :ROFLMAO:
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I always like to add:

"Yabbut, WTSHTF, those with gold can hire people to go out and get them some food, hire others to cook it, and hire still others to serve it. And they do, and have done since mankind first discovered gold."

History has shown the above to be the standard worldwide for thousands of years. <-- An excellent track record.
 
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According to the latest report from the World Gold Council, Singapore's central bank bought gold for the second straight month, increasing its official reserves by 6.8 tonnes in February. ...
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www.kitco.com

Singapore adds another 6.8 tonnes of gold in February

Kitco News' general-interest stories takes a look at what is making headlines in the marketplace and how that is impacting precious metals prices
www.kitco.com
 
Turkey’s central bank is offloading its gold reserves to help meet high domestic demand after curbing precious metals imports in February, Bloomberg reported.

Turkey has seen a surge in gold demand in the past year as citizens embraced the precious metal as a hedge against inflation, which ran at a pace of over 85% at one point last year, and local currency devaluation.

The central bank's data showed that gold reserves fell 9% in the last seven weeks.

Turkey also sold 15 tonnes of gold in March, the World Gold Council reported. This marked the first monthly net sale since November 2021 and lowered the country's reserves to 572 tonnes.
...
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www.kitco.com

Turkey is selling off its gold reserves to meet surging domestic demand

www.kitco.com

I wonder what kind of premiums the citizens had/have to pay for physical over there.
 
DCA and anything < US$1800/oz. is a big buying opportunity. At some point we may again see sub-$1900 gold.

Platinum is coming back into buying range sub-$1k.
 
Platinum up and gold got whacked. I am buying < $1900.
 
CiscoKid said:
Seeing some wild swings with gold lately.
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fear....is driving the market....i assume some stabilization when the debt ceiling is passed and bank issues quiet down........ summer is seasonally a lower spot price time will be intresting how things play out over the next 3 months with all the forces in play
 
I am still buying, but not chasing. I almost bought some 1/10th platinum coins @ $127, but hoping for $teens to add. I miss the good old days of sub $700 silver kilo bars.
 
nickndfl said:
I am still buying, but not chasing. I almost bought some 1/10th platinum coins @ $127, but hoping for $teens to add. I miss the good old days of sub $700 silver kilo bars.
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🙂good Ole days were sub 700$ 100oz bars.....I'm with you on buying but not chasing...current best place to buy seems to be in Facebook marketplace groups I'm seeing thousands+ dollars of products move daily but there is a process to find and get into those
 
Polish central bank bought 14.8 tonnes of gold in April, which was the biggest purchase since June 2019.
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According to the World Gold Council, other central banks that bought gold in April included the People's Bank of China, the Czech National Bank, and the Central Bank of Mongolia, with 8.1 tonnes, 1.8 tonnes, and 1 tonne, respectively.

On the other hand, the Central Bank of Turkey is estimated to have sold a staggering 80.8 tons of gold in April to meet surging domestic demand. After buying the most gold than any other central bank last year, Turkey turned to selling in March and April to meet growing domestic demand, the WGC said. This was in an attempt to limit the need to import gold, which has been weighing on Turkey's current account deficit.

Turkey has seen a surge in gold demand as citizens embraced the precious metal as a hedge against inflation, which ran at a pace of over 85% at one point last year, and local currency devaluation.
...
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www.kitco.com

Poland boosts its gold reserves by 15 tonnes, biggest increase in nearly 3 years

www.kitco.com
 
I am at a weird spot: After more than a third of a century stacking... I am done. I do not care a button for the fluctuating price of PM's.

Oh, I watch carefully. But weaponry of all kinds, as well as ammo, food, PM's, rural setting with like-minded neighbors, with zero debt -- are all in place.

I just do not have the cash-flow ability to acquire any significant amount of PM's while maintaining my lifestyle. Nor the need. I started when a Krugerrand full price with freight was $198.
 
Unca Walt said:
I am at a weird spot: After more than a third of a century stacking... I am done. I do not care a button for the fluctuating price of PM's.

Oh, I watch carefully. But weaponry of all kinds, as well as ammo, food, PM's, rural setting with like-minded neighbors, with zero debt -- are all in place.

I just do not have the cash-flow ability to acquire any significant amount of PM's while maintaining my lifestyle. Nor the need. I started when a Krugerrand full price with freight was $198.
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Not such a weird spot...pretty much describes my situation other than I still generate some excess cash flow that needs a home so I try to move it to some form of real goods as it's generated.....its good to not be chasing the market and to be relaxed about life....I will say I don't remember 1oz krugerands ever being under 200$
 

China's Gold Rush - Xi Prepares for “Worst Case Scenarios”. Live From The Vault Ep:125​

Jun 2, 2023


37:55

In this week’s episode of Live from the Vault, Andrew Maguire discusses the latest market catalysts that are capable of triggering a global gold reevaluation event, as a result of the ongoing paper versus physical gold showdown.

The precious metals expert delves into the underreported decision of the People’s Bank of China to start preparing its 1.4 billion citizens for opting out of the dollar and into gold, explaining how this will impact the gold’s supply, demand and price.

00:00 Start
01:25 Gold price reevaluation event
04:35 The two primary tools the fed use to manage their wrong-footed paper bets
06:20 The little-reported move by the People's Bank of China
09:15 The threat of war
10:55 China opting out of the dollar hegemony
13:45 Triggering the reevaluation of monetary metals
18:15 China tightening paper gold’s noose
29:00 The tool the casino uses to rig the table
 

Singapore – The World’s largest central bank gold buyer in Q1 2023​

2 Jun 2023 05:24

Last year, a major theme in the global gold market was the record gold buying by central banks across the world, with the World Gold Council and its data gatherers (Metals Focus) calculating that central banks had cumulatively purchased a net 1136 tonnes of monetary gold during 2022.

At the outset of 2023, this led the World Gold Council to predict that:

“Looking ahead, we see little reason to doubt that central banks will remain positive towards gold and continue to be net purchasers in 2023.”

This indeed has proven to be the case, for after Q1 2023 drew to a close, the World Gold Council estimated that in the first quarter of 2023, the world’s central banks had again been net buyers of gold to the tune of a combined 228 tonnes. This is the strongest first quarter of central bank gold buying on record.

And the central bank leading the pack in this gold accumulation has been none other than BullionStar’s neighbour, the Monetary Authority of Singapore (MAS), whose headquarters are literally a short 2 kms stroll from BullionStar’s shop and showroom in Singapore’s central business district.

Read the rest:

www.bullionstar.us

Singapore – The World’s largest central bank gold buyer in Q1 2023

The central bank of Singapore (MAS) was the largest central bank gold buyer in Q1 2023, buying 68.7 tonnes of monetary gold.
www.bullionstar.us www.bullionstar.us
 
From the link:

In our previous article outlining the key players in the precious metals market, we highlighted global central banks as being one of the main driving forces behind gold’s rising demand.

The lender of last resort for their respective countries, central banks have been stacking up on gold to meet their financial obligations since the 2007-08 financial crisis. Bloomberg previously reported that banks have been buying the most gold since the United States abandoned the gold standard in 1971.

As of today, central banks are enjoying their longest period of gold buying, which represents a dramatic shift in attitude from the 1990s and early 2000s.

goldseek.com

Who Are Behind the Gold and Silver Buying — Part II

As of today, central banks are enjoying their longest period of gold buying, which represents a dramatic shift in attitude from the 1990s and early 2000s.
goldseek.com goldseek.com
 
Turkey continues selling gold:
Turkey sold an additional 63 tonnes of gold in May after a selling spree of nearly 100 tonnes in April and March.

The latest World Gold Council's (WGC) data showed that the Central Bank of Turkey offloaded 63 tonnes of gold last month. During the spring months, Turkey's official gold reserves dropped by 159 tonnes to 428 tonnes.

"This will certainly have a significant impact on overall central bank activity in May," said WGC's senior analyst Krishan Gopaul.

Turkey's selling is part of a notable slowdown in record-breaking official gold purchases worldwide.
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Another seller last month was the Central Bank of Uzbekistan, which continued to offload some of its precious metal as its reserves fell by another 11 tonnes in May, the WGC said. Year-to-date sales account for 27 tonnes.

The biggest gold buyer in May was the People's Bank of China, which purchased an additional 16 tonnes — its seventh consecutive increase. China has bought 144 tonnes of gold since its latest shopping spree that began in November, with its total stockpiles now at around 2,092 tonnes.

Also, India bought two tonnes last month, bringing its total gold reserves to 796 tonnes. And the Czech National Bank added another 1.8 tonnes of gold, increasing its reserves to 17 tonnes.
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www.kitco.com

Turkey's gold-selling spree: central bank sells another 63 tonnes of gold in May

www.kitco.com
 


I guess the WGC doesn't get all the reports at once as this wasn't included in the previous announcement of central bank activity for May.
 
Global central banks saw losses in managing their reserves in 2022 amidst an aggressive monetary policy tightening cycle, according to a closely watched central bank survey run by a think tank group. Following the losses, there is now a renewed demand for traditional reserve assets.

Eighty percent of reserve managers posted losses last year, and nearly 40% expect it will take one to two years to recoup those losses, said the Official Monetary and Financial Institutions Forum (OMFIF) in its Global Public Investor 2023 survey released Tuesday. "Almost 40% expect it will take one to two years to recoup their losses, while nearly a quarter think it will take two to five years," OMFIF said.
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Fourteen percent of respondents said they would increase their allocation to gold. "This is mostly for diversification purposes, while over a third will invest in gold to protect against geopolitical risk," the survey said.
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Sentiment towards the U.S. dollar remained positive, but its dominance is seen as slightly waning in the long term. Central banks said they anticipate a decrease in the dollar's share of total reserves to 54% in the next decade from the current levels of just under 60%.

"Central banks expect the dollar to continue dominating global reserves in the next decade, though its influence will wane slightly," according to respondents. "A net 6% of respondents expect to reduce their dollar holdings over the next ten years. But this shift will be in line with the slow, decades-long trend of de-dollarization."
...
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www.kitco.com

Central banks post widespread losses on reserves in 2022, U.S. dollar's dominance seen as slightly waning

www.kitco.com
 
Back in the 70s when US citizens could not own gold some hedged with foreign currency like German marks and Swiss francs.

Today there is no need to risk arbitrage when theee is Au & Ag.
 
pmbug said:

19 tonnes... Poland
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TBQ

The Big Question That Means Everything:

Is that gold inside Poland somewhere?
Or is it a stack in a vault in England with a sticker on it?
Or is it just a receipt for a sticker for a multi-extended list of owners?

All three possibilities are in existence right now. Allocated, Unallocated, Pooled Storage, Rehypothecation, the descriptions are numerous and extant.
 
The safe assumption is that central bank acquisitions are stored in the LBMA system.
 
pmbug said:
The safe assumption is that central bank acquisitions are stored in the LBMA system.
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(*sigh*) This is the same LBMA that trades:

"gold or silver bullion or related derivatives such as forwards and options in the "Loco London" market."

So now we know:

Poland is clearly in receipt of a note for a sticker on a stack of gold bars stored down in the London vaults.

Would anyone here bet their immortal soul that there "derivatives" appellation may have a bit of a say in case of a genteel "bank run" wherein Poland (and others) want to get their fingies on the gelt? (Like a country just recently tried...)

Even their own "advertisement site" got tinkled-on, noting "futures", etc.

"This article may rely excessively on sources too closely associated with the subject"



In sum: If an organization is going to store gold for mulitple countries, that organization should store the gold for multiple countries and NOT play futures, derivatives, options, forwards, and other graft-inducing games.

Does anyone think the US would empty Fort Knox (yeah, I know) and be willing to put it in the cellar of a London bank where it can be hypothecated a few hundred times per ounce? Consolidation, d'ysee. Make everything run more smoothly.
 
Central banks may have slowed the pace of their gold purchases, but they have not stopped, and they continue to see value in adding the precious metal to their foreign reserve.

The Monetary Authority of Singapore has been a significant gold buyer this year and that trend continued in July. The central bank said that it bought 2 tonnes of gold last month, according to updated reserve data.
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In a roundup of other central bank moves, Gopaul said that IMF data shows that Libya bought 30 tonnes of gold in June.
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Tuesday, Gopaul announced that Qatar increased its official gold reserves by 3 tonnes last month.
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In a recent interview with Kitco News, George Milling-Stanley, chief gold strategist at State Street Global Advisors, said that central bank gold demand will continue to provide solid support for the gold market.
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www.kitco.com

Singapore, Qatar continue buying gold, Libya boosts reserves to record levels

Kitco News' general-interest stories takes a look at what is making headlines in the marketplace and how that is impacting precious metals prices
www.kitco.com
 
Viking said:
“Libya bought 30 tonnes of gold in June”

Bought or bought back?
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Good point. But it doesn't matter. They got it back. "If you don't hold it... somebody else will own it."
 
China added to its gold reserves for a 10th straight month, extending a push to bolster its hefty stockpile as it tries to diversify away from the US dollar.

Bullion held by the People's Bank of China rose by 930,000 troy ounces in August, the central bank said on Thursday. That's equivalent to about 29 tons. Total reserves now sit at 2,165 tons, with around 217 tons added in a run of purchases that began in November.
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China's gold binge extends to 10th month as reserves climb | Gold Anti-Trust Action Committee | Exposing the long-term manipulation of the gold market

gata.org gata.org

That's what they are disclosing anyway.
 
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