Further to my post above central bankers in the 3rd quarter 22 brought almost double the highest amount in the last 10 years and the highest amount IN OVER 50 YEARS. But the POG did not rise until November. I wonder what they did in the last quarter?
Central bank buying in large quantities explains why the physical gold market is so tight and suggest central banks continued to buy large quantities in the last quarter of 22.
Central bankers and finance ministers may be all about fiat currency, but behind the scenes, they’re gobbling up the yellow metal at the fastest pace in living memory. In the third quarter, official net gold purchases were approximately 400 tonnes, around $20 billion, the most in over a half-century.
Further to my post above central bankers in the 3rd quarter 22...
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