Question about central bank gold buying

[Unobtanium]

Whenever you see a headlines such as the statement below from the article:
https://www.zerohedge.com/geopolitical/central-banks-hoard-more-gold

"On net, central banks added 21.5 tons of gold to their reserves in January, according to the latest data from the World Gold Council."


Where are the central banks purchasing the gold?

Are they buying paper gold or physical gold?

If physical gold, are they taking physical delivery into their vaults, or simply purchasing gold that is left in a vault elsewhere in the world?

And if in a vault, does the gold get sold multiple times such that they are not the only "owners" of that gold?

 

[pmbug]

I've never found a good answer to those questions. I suspect the reality is that the purchases are a mix of paper gold and "real" ie. allocated/vaulted gold.

One thing I'm fairly sure of is that most countries are not taking physical delivery into their own vaults. If anything, they are vaulting their gold with the LBMA, NY Fed or similar institution. It's big news when a country repatriates gold from those places.

 

[rblong2us]

They are all pretty confident the paper charade will hold arent they ..........

I guess for them its irrelevant if the whole thing falls over ?

Reboot with the new concept and lie about how much gold you 'own'