Tanzania to create a gold reserve

Welcome to the Precious Metals Bug Forums

Welcome to the PMBug forums - a watering hole for folks interested in gold, silver, precious metals, sound money, investing, market and economic news, central bank monetary policies, politics and more. You can visit the forum page to see the list of forum nodes (categories/rooms) for topics.

Please have a look around and if you like what you see, please consider registering an account and joining the discussions. When you register an account and log in, you may enjoy additional benefits including no ads, market data/charts, access to trade/barter with the community and much more. Registering an account is free - you have nothing to lose!

pmbug

Your Host
Administrator
Benefactor
Messages
13,951
Reaction score
4,365
Points
268
Location
Texas
United-States
Tanzanian President John Magufuli on Wednesday ordered the central bank to create a gold reserve, as he urged the government to better control mineral exports from the country, Africa's fourth largest gold producer.

"We should start buying gold, the central bank must invest in this. We must have our reserves in dollars but also our reserves in gold, because gold is money," Magufuli said at a ceremony in Dar es Salaam.
...

https://www.theeastafrican.co.ke/bu...-gold-reserve/2560-4928044-12qmx2r/index.html

I wonder if Jim Sinclair has been in his ear. Any way, I'm not sure just how big a slice of the total global gold production Tanzania represents or how much of their production they will end up storing for themselves, but it's interesting to note that it's not just the usual suspects (China, Russia, et. al.) that are shoring up gold reserves.
 
Back
Top Bottom