Central banks net sellers

Discussion in 'Gold' started by mmm....shiney!, Jan 7, 2022.

  1. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    https://www.gold.org/goldhub/gold-focus/2022/01/central-banks-slide-net-sales-november

    Uzbekistan's head banker explains why his country sees value in holding gold:

    https://www.gold.org/goldhub/gold-focus/2021/10/central-bankers-perspective-role-gold-uzbekistan

    Contrast that with the position of most of the high income Western nations where economic stability is drawn from faith in the political/financial systems. That is they don't need to hold substantial amounts of gold to implement monetary policy, support the exchange rate, install confidence in others, settle international transactions and protect the economy from shock or disasters.
     
    Last edited: Jan 8, 2022
  2. leo25

    leo25 Well-Known Member Silver Stacker

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  3. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    Last edited: Jan 8, 2022
  4. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    Governments probably had to sign over their gold years ago by now with all this debt.
    It only switches hand and locations as the central banks wish.
    Uzbekistan is a perfect example of a broke ass no gold having country haha.
     
  5. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    Some data from the World Gold Council on the purchases/sales of gold by Central Banks. The total for each year is the net amount ie purchases-sales. Not all CBs buy gold, chiefly the rich Western nations are not adding to their reserves with the exception of Singapore, Ireland and France with Ireland purchasing for the first time in 2021 since the data was kept in 2002. As you can see those CBs participating in sales/purchases are overall net purchasers for the year:

    2019 +707.7 Tonnes
    2020 +263.8 Tonnes
    2021 +373.4 Tonnes
     

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