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

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i've found it weird, over the years, reading the experts state that all major countries have been stocking gold for decades


why don't they own it all by now?


well, not ours, of course...but, how can it be, everyone's stocking gold like it's going out of style yet there's still plenty to be procured?



i have trouble with stories like this, and there are a lot of them
 
i've found it weird, over the years, reading the experts state that all major countries have been stocking gold for decades


why don't they own it all by now?


well, not ours, of course...but, how can it be, everyone's stocking gold like it's going out of style yet there's still plenty to be procured?



i have trouble with stories like this, and there are a lot of them
They keep digging up more of the stuff. Not sure why though. It's not used for anything other than sitting there looking pretty.
 
... i have trouble with stories like this, and there are a lot of them
I didn't watch the video - have no idea what he is using the support the claim in the title, but the World Gold Council says central banks bought an estimated ~400t last quarter:

 
well, not ours, of course...but, how can it be, everyone's stocking gold like it's going out of style yet there's still plenty to be procured?
i have trouble with stories like this, and there are a lot of them
You are forgetting those two markets are manipulated to maintain the usd (small type intended) as the World's Reserve Currency.
Have you notices the US/UK/Ca/Au are the only nations not at the gold window(s) ?
When one goes down they'll all go down. The are the band on the (USSA)" Titanic" "Keep playin' fellas". And UK shows signs of major cracking.
All the other nations are running to life boats - Gold & Silver or Commodities.
 
I didn't watch the video - have no idea what he is using the support the claim in the title, but the World Gold Council says central banks bought an estimated ~400t last quarter:

don't have to watch it, just check the 'more' bit under the video

Today we will look at how Central Banks have bought the most gold for any year since 1967. The World Gold Council recently reported on the data. Here is a link to the article: https://archive.ph/Tovje
 
put my dentist into another tax bracket, no doubt

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i started out with just a few nuggets, but over time, well, you know...

lol

i mean, come on, these guys do say, and have said this for over a decade now...

'the CB's,the Countries, the Oligarchs...they're all gonna keep stacking..'and this year they're stacking more than last year...duh da duh da duhhhhhh

of which i suggest, aint that what we're all doing? i mean, to some extent...


where's the news?
 
Record High Gold Buying from Mystery Central Bank
Timecodes 0:00 Central Banks are the Biggest Buyers of Gold
3:47 Jewelry Demands Increase Gold Value
5:49 Year to Date Mine Production
8:05 Global ETFs
 
Ronan Manly dissects the WGC report:

Reading between the lines the WGC is part of manipulating the price of gold. IMO
And Communist China has never been forth coming in their gold reserves and purchases.
Plus we have news articles and some photographs of gold confiscations in Iraq, Lybia, and Ukraine to name the most obvious.
DYODD.
YMMV
 
The WGC represents 32 gold mining companies, not the COMEX or LBMA.
 
So your theory is that gold miners want to suppress the price of gold so that they make less money?
 
So your theory is that gold miners want to suppress the price of gold so that they make less money?
I'm saying the current WGC does not have their membership's best interest in mind or they would expose the issue(s) of this pencil whipping Gold and Silver are exposed too .
 
....its a bit scary to think this was a record central bank gold buying year and the price action has been a bit negative...........what happens when they stop buying or start selling......i guess i see it as a negative thing considering the price action

war is always positive for gold as it trades much better than fiat
 
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....its a bit scary to think this was a record central bank gold buying year and the price action has been a bit negative........
It's a tale of two gold markets. I don't think central banks are buying gold futures on the open market. Last I heard, they buy physical directly from miners if they aren't buying directly from another central bank. If that's true, their buying activity won't directly impact paper gold markets (though it would contribute to the dwindling stocks in COMEX and LBMA vaults).
 
It's a tale of two gold markets. I don't think central banks are buying gold futures on the open market. Last I heard, they buy physical directly from miners if they aren't buying directly from another central bank. If that's true, their buying activity won't directly impact paper gold markets (though it would contribute to the dwindling stocks in COMEX and LBMA vaults).
When Gordon Brown sold British gold reserves in ~2000 it pushed gold prices down to approximately ~250$ so to discount the possibility of central bank buying/selling affecting markets in my opinion is nearsighted
 
Why would these central banks be buying such quantities when we have been told that it is nothing but a "barbarous relic"?
 
.......i know there's room in Ft Knox so i'm hoping Brandon is picking us some up...maybe he can get Canadas...oh wait
I'm afraid there is more room in Fort Knox than we ever realized. Vault doors with paper receipts taped inside saying "THANKS for the cover".
 
My intelligence based on reports from sources that would rather remain unknown and are in or were in a position to know, including a man who has lived in the area since birth, was on the local high school football team and was hired one summer to do an inventory, says that there is at last report gold in the vault. The gold in the vault in cast bars of coin gold. It was extremely dirty at that time, about 50 years ago, roughly. Old cigarette packages, crumpled up, and a couple of glass soda bottles that were pre-war were found by the football team. Heavy and dirty.

Two structures were built by the main gate, first a metal garage, or a metal building with garage doors, about 10 car size if I had to guess, saw the concrete floor poured. Nothing fancy. Then they had some backhoes and stuff, dug up a large area a little closer to the building, in a rectangular shape, this went on for a while, they pour some concrete and ended up with a building about a quarter the size of the dig. I don't know why. I don't know for sure what the building is used for. There was when I arrived here some government quarters for lower enlisted directly behind the fence. I was offered quarters there but it was bad. So I declined. Close enough to tunnel under the fence I would guess. Old broken blacktop road along the fence between the quarters and the fence, the rest was wooded and could and did contain Talibon deer, they tried to ambush me more than once on Fort Knox side where they had set up in the trees. They did something and that stopped about 2004 or so. The apartments were torn down, the road was rebuilt, and the Dixie Hwy side has a gate now (for the patrol road).

I have never seen a big truck go in or out, over decades I rarely have seen the gate open, almost always it will be to admit a patrol Humvee that circles the fence and the surrounding area. It used to have the Crown Jewels of Hungary and a shit ton of opium, the Crown Jewels are gone, the opium situation unknown to me. The opium is for treating the dying from radiation poisoning.

That is what I know in a nutshell.
 
Central banks bought a further 50 tonnes on a net basis during November 2022, representing a 47% increase from October’s (revised) 34 tonnes, the latest World Gold Council data shows.

Of this net total, three central banks accounted for gross buying of 55 tonnes, while two largely contributed to gross sales of 5 tonnes, showing the strength of demand, says WGC.

The biggest announcement of the month came from the People’s Bank of China (PBoC), which reported an increase of 32 tonnes, the largest reported purchase in November and the first announced increase in its gold reserves since September 2019.

This announcement is significant – according to the WGC – given China’s historic position as a large gold buyer, having accumulated 1,448 tonnes between 2002 and 2019. It remains to be seen whether this is followed up with reports of continued buying in December. At the end of November, PBoC gold reserves stood at 1,980 tonnes (3.4% of total reserves).

The Central Bank of Türkiye continued to buy gold in November, adding a further 19 tonnes to its official reserves (central bank plus Treasury). This lifts its year-to-date net purchases of gold to 123 tonnes – the largest reported by any country – and its official gold reserves to 517 tonnes (27% of total reserves).
...

 



So why are the central banks buying up physical gold? We suspect that paper gold is over-allocated. Are they buying gold to cover the shortage? And why?

And can the miners supply enough physical gold to keep up with the central bank's demand? Is this why the price is being kept low?

Are the central banks buying all this physical gold because they sold what they had and are trying to replace it? If gold is such a "barbarous relic", why are central banks still placing value on it?
 
Gold is money. I read that somewhere.

Gold is only money as long as people in power regard it as such. At the end of the day, it is an element with very good workability and excellent electrical conductivity. Is it really any different than diamonds, whose value is artificially maintained by a select consortium?

The "powers that be" could pass a law putting gold back to $35 an ounce tomorrow.
 
Gold is only money as long as people in power regard it as such. At the end of the day, it is an element with very good workability and excellent electrical conductivity. Is it really any different than diamonds, whose value is artificially maintained by a select consortium?
...

 
As long as we have a Constitution gold and silver are money.

Article I Legislative Branch​

  • Section 10 Powers Denied States​

    • Clause 1 Proscribed Powers
    • No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.
unless of course you enter into (or if you are fooled into) a contract that invalidates your right to use money.
 
Mainstream financial news is starting to pay attention...

Opinion: Central banks are buying gold at the fastest rate in half a century

Here’s another reason why it may not be completely insane to add some gold bullion to your 401(k) or retirement account.

Central banks are stocking up.

Three economists—Serkan Arslanalp and Chima Simpson-Bell at the International Monetary Fund, and Barry Eichengreen at UC Berkeley—have published a new report pointing out that gold, far from being on the way out as an international reserve currency, has been coming back in.

“Central bank gold holdings have risen since the Global Financial Crisis (of 2008-9),” they write. Central banks have been stockpiling bullion over the past 15 years, more than making up for the net sales of the previous decade. Central banks worldwide bought more gold in the third quarter of 2022 than in any other quarter in 55 years, they report.
...

More (long and decent read):

 
Mainstream financial news is starting to pay attention...



More (long and decent read):



Good article.

This line gave me a chuckle.

"Strauss invests in gold through the Sprott Physical Gold Trust PHYS, -0.93%, where your investment is allocated to individual bars of gold. (You can, if you wish, actually take possession of your bullion)."


I think that would be wise.
 
World Gold Council has apparently released a report for Q4 of last year:
Demand for gold surged to its highest in more than a decade in 2022, fuelled by "colossal" central bank purchases that underscored the safe haven asset's appeal during times of geopolitical upheaval.

Annual gold demand increased 18% last year to 4,741 tonnes, the largest amount since 2011, driven by a 55-year high in central bank purchases, according to the World Gold Council, an industry-backed group.
...
Central bank purchases of gold hit 417 tonnes in the final three months of the year, roughly 12 times higher than the same quarter a year ago. It took the annual total to more than double of the previous year at 1,136 tonnes. ...


h/t:

 
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