Whereas dozens of the world’s financial leaders take part in excessive financial easing coverage, central banks have additionally been hoarding gold. Central banks amassed over 668 tons in gold purchases this yr, which is greater than 2018’s file numbers. In actual fact, the important thing drivers in gold demand this yr stemmed from central financial institution purchases, most of which had been purchased (390 tons) through the first two quarters of 2019.
Additionally Learn: Germans Rush to Purchase Gold as Draft Invoice Threatens to Limit Purchases
Central Bank Gold Purchases in 2019 Surpass Final 12 months’s 50-12 months Milestone
Throughout the previous few months of 2019, economists have been warning of worldwide financial calamity. Furthermore, at the very least 37 developed central banks have participated in important financial easing practices like massive scale in a single day repos and slashing rates of interest. Each time one of many banks cuts a nation’s rate of…