Global Central Bank Gold Purchases Surge and Storage Locations Diversify
- 1According to Goldman Sachs, global central bank gold purchases in August reached 79 tons, more than four times the pre-2022 average of 17 tons.
- 2The Dutch Central Bank confirmed it relocated 86 tons of gold from New York and Ottawa to London over the past six months.
- 3The Bank of France announced it sold 129 tons of gold, representing 5% of its total holdings, in New York and instead purchased gold in Europe.
So what's the key point?
Central banks around the world bought 79 tons of gold, which is much more than they used to buy. They are also moving their gold to different storage locations or selling it in one place to buy it in another.
Source Fortune · View original ↗
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