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The Reserve Bank of India has jumped on the gold bandwagon. Since December 2017, the Indian central bank has added 50.4 tons of gold to its reserves. India bought 8.2 tons of gold in January and February of this year and analysts project that pace to pick up. Economist Howie Lee told Bloomberg he expects […]
This has become a monthly feature here a SchiffGold News – Russia buys more gold. The Central Bank of Russia added another 18.7 tons of gold to its stash in March according to a press release last week. This boosts the country’s gold reserves to 2, 167.9 tons or 69,700,000 ounces. Gold now makes up […]
In the March 8 episode of the SchiffGold Friday Gold Wrap podcast, Mike Maharrey emphasized the importance of understanding sound economic theory. And as economist Frank Shostak explained, facts and figures aren’t enough to digest what’s going on in the economy. In order to really make sense of the data one must have a theory, […]
We’ve been following a number of central banks that have been buying gold recently, specifically the Russians and Chinese. But these two central banks aren’t alone. In fact, central bank gold-buying has surged over the last couple of years. What’s behind this trend?
Russia continues to buy gold as it seeks to minimize exposure to the US dollar. According to information released by the Central Bank of Russia last week, it purchased another 31.1 tons of gold in February, bringing its total reserves to 2,149 tons.
Global gold demand grew by 4% in 2018, driven by a multi-decade high in central bank buying, according to the World Gold Council’s Gold Demand Trends 2018 Report. Gold demand came in at 4,345.1 tons in 2018. That was up from 4,159.9 tons the previous year. This was in line with the five-year average growth.
Russia added another 36.6 tons of gold to its reserves in November, according to the latest data released by the World Gold Council. This follows on the heels of a 29.9-ton increase to its hoard in October and a 37.8-ton increase in September.
What happens when central banks push interest rates to zero – in some cases below zero – and hold them there for nearly a decade? You get debt. Lots and lots of debt. Record levels of debt, in fact.
You can add Poland to the list of countries buying gold. The Polish central bank added about seven tons of gold to its reserves in July and another two tons in August, according to International Monetary fund data. It was the largest gold purchase by Poland since 1998.
For the last 10 years, central banks have been on a gold-buying spree. At least some of them have. On net, central banks globally added 193.3 tons of gold during the first half of 2018, according to World Gold Council data. That represents an 8% increase over 2017. The last time we saw this kind of […]
