Central banks bought a record 399 tonnes of gold worth around $20 billion in the third quarter of 2022, helping to lift global demand for the metal, the World Gold Council (WGC) said on Tuesday.
Source: Record central bank buying lifts global gold demand, WGC says | Reuters
|Jim Rickards:Central Banks Stocking Up on Gold|
Gold hasn’t received much attention from investors lately, Indeed we haven’t bothered with the topic for a very long time as prce maniplators dragged the market down. But central banks have been buying gold hand over fist. Central banks bought a record 399 metric tonnes of gold in the third quarter. What does it mean when some of the biggest players on earth are buying gold and everyday investors are not?
It means they know something you don’t. They see something coming that you may not be able to see. Central banks have a front-row seat on an emerging global liquidity crisis in which confidence in the U.S. dollar may be eroded. That’s a powerful inference from the available information.
But it’s not too late for everyday people to join the big central banks and acquire some gold. This crisis may arrive sooner than anyone expects. The time to get on the gold train is right now.