Loading ...Central Bank Gold Buying Through First Half Of 2024 Sets Record
Central banks globally added a net 483 tons of gold through the first six months of the year, 5 percent above the record of 460 tons in H1 2023.
In the second quarter, central bank gold demand totaled 183 tons, according to the latest data compiled by the World Gold Council. That was up 6 percent year-on-year, but about 39 percent lower than the Q1 buying pace.
With gold at or near record price levels in most currencies, it’s unsurprising that central bank buying slowed in the second quarter.
https://www.zerohedge.com/commodities/central-bank-gold-buying-through-first-half-2024-sets-record
It is pretty obvious by now this is in preperation for a global revaluation of the official international gold price. When and how high are the key questions. Given the amount of global debt and the fact that if you are going to do this after 80 years, it is going to be a big number.
I guess all that buying is why gold is at $3500
Paper gold created is over 100 ounces, per ounce of physical. Move your current fictional price set by the Comex over by 2 decimal points and you get an idea of where the rest of the world will set the physical price when the suppression ends.