1st three minutes the news topic, SD Bullion Contest, and then general gold new the rest of the video:
I do like his relationship of money, silver , and the Superbowl at the end (Bread & Circus Event)
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After a record-setting year in 2022, central banks remain very interested in gold at the start of 2023, according to the World Gold Council (WGC).
In January, central banks bought 31 tonnes of gold, a monthly increase of 16%, said WGC in a note Thursday.
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The TBTF banksters are manipulating the prices ( gold & silver) until the last minute they can't.
... A key theme among analyst presentations and comments on the floor during the 2023 annual Prospectors & Developers Association of Canada has been the People's Bank of China's new foray into the gold market.
Wednesday, quoting updated reserve data from China's central bank, Krishan Gopaul, senior European, Middle East, and Asian markets analyst at the World Gold Council, said the country bought 24.9 tonnes of gold in February. ...
I always like to add:What idiots. Gold is nothing but a "barbarous relic". I mean, you can't eat gold.
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According to the latest report from the World Gold Council, Singapore's central bank bought gold for the second straight month, increasing its official reserves by 6.8 tonnes in February. ...
... Global gold reserves increased by 52 tonnes in February, rising for the 11th month in a row, the WGC said Tuesday. ...
Turkey’s central bank is offloading its gold reserves to help meet high domestic demand after curbing precious metals imports in February, Bloomberg reported.
Turkey has seen a surge in gold demand in the past year as citizens embraced the precious metal as a hedge against inflation, which ran at a pace of over 85% at one point last year, and local currency devaluation.
The central bank's data showed that gold reserves fell 9% in the last seven weeks.
Turkey also sold 15 tonnes of gold in March, the World Gold Council reported. This marked the first monthly net sale since November 2021 and lowered the country's reserves to 572 tonnes.
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Seeing some wild swings with gold lately.
I am still buying, but not chasing. I almost bought some 1/10th platinum coins @ $127, but hoping for $teens to add. I miss the good old days of sub $700 silver kilo bars.
Polish central bank bought 14.8 tonnes of gold in April, which was the biggest purchase since June 2019.
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According to the World Gold Council, other central banks that bought gold in April included the People's Bank of China, the Czech National Bank, and the Central Bank of Mongolia, with 8.1 tonnes, 1.8 tonnes, and 1 tonne, respectively.
On the other hand, the Central Bank of Turkey is estimated to have sold a staggering 80.8 tons of gold in April to meet surging domestic demand. After buying the most gold than any other central bank last year, Turkey turned to selling in March and April to meet growing domestic demand, the WGC said. This was in an attempt to limit the need to import gold, which has been weighing on Turkey's current account deficit.
Turkey has seen a surge in gold demand as citizens embraced the precious metal as a hedge against inflation, which ran at a pace of over 85% at one point last year, and local currency devaluation.
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Not such a weird spot...pretty much describes my situation other than I still generate some excess cash flow that needs a home so I try to move it to some form of real goods as it's generated.....its good to not be chasing the market and to be relaxed about life....I will say I don't remember 1oz krugerands ever being under 200$I am at a weird spot: After more than a third of a century stacking... I am done. I do not care a button for the fluctuating price of PM's.
Oh, I watch carefully. But weaponry of all kinds, as well as ammo, food, PM's, rural setting with like-minded neighbors, with zero debt -- are all in place.
I just do not have the cash-flow ability to acquire any significant amount of PM's while maintaining my lifestyle. Nor the need. I started when a Krugerrand full price with freight was $198.
Turkey sold an additional 63 tonnes of gold in May after a selling spree of nearly 100 tonnes in April and March.
The latest World Gold Council's (WGC) data showed that the Central Bank of Turkey offloaded 63 tonnes of gold last month. During the spring months, Turkey's official gold reserves dropped by 159 tonnes to 428 tonnes.
"This will certainly have a significant impact on overall central bank activity in May," said WGC's senior analyst Krishan Gopaul.
Turkey's selling is part of a notable slowdown in record-breaking official gold purchases worldwide.
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Another seller last month was the Central Bank of Uzbekistan, which continued to offload some of its precious metal as its reserves fell by another 11 tonnes in May, the WGC said. Year-to-date sales account for 27 tonnes.
The biggest gold buyer in May was the People's Bank of China, which purchased an additional 16 tonnes — its seventh consecutive increase. China has bought 144 tonnes of gold since its latest shopping spree that began in November, with its total stockpiles now at around 2,092 tonnes.
Also, India bought two tonnes last month, bringing its total gold reserves to 796 tonnes. And the Czech National Bank added another 1.8 tonnes of gold, increasing its reserves to 17 tonnes.
Global central banks saw losses in managing their reserves in 2022 amidst an aggressive monetary policy tightening cycle, according to a closely watched central bank survey run by a think tank group. Following the losses, there is now a renewed demand for traditional reserve assets.
Eighty percent of reserve managers posted losses last year, and nearly 40% expect it will take one to two years to recoup those losses, said the Official Monetary and Financial Institutions Forum (OMFIF) in its Global Public Investor 2023 survey released Tuesday. "Almost 40% expect it will take one to two years to recoup their losses, while nearly a quarter think it will take two to five years," OMFIF said.
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Fourteen percent of respondents said they would increase their allocation to gold. "This is mostly for diversification purposes, while over a third will invest in gold to protect against geopolitical risk," the survey said.
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Sentiment towards the U.S. dollar remained positive, but its dominance is seen as slightly waning in the long term. Central banks said they anticipate a decrease in the dollar's share of total reserves to 54% in the next decade from the current levels of just under 60%.
"Central banks expect the dollar to continue dominating global reserves in the next decade, though its influence will wane slightly," according to respondents. "A net 6% of respondents expect to reduce their dollar holdings over the next ten years. But this shift will be in line with the slow, decades-long trend of de-dollarization."
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TBQ19 tonnes... Poland
(*sigh*) This is the same LBMA that trades:Thesafeassumption is that central bank acquisitions are stored in the LBMA system.
Central banks may have slowed the pace of their gold purchases, but they have not stopped, and they continue to see value in adding the precious metal to their foreign reserve.
The Monetary Authority of Singapore has been a significant gold buyer this year and that trend continued in July. The central bank said that it bought 2 tonnes of gold last month, according to updated reserve data.
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In a roundup of other central bank moves, Gopaul said that IMF data shows that Libya bought 30 tonnes of gold in June.
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Tuesday, Gopaul announced that Qatar increased its official gold reserves by 3 tonnes last month.
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In a recent interview with Kitco News, George Milling-Stanley, chief gold strategist at State Street Global Advisors, said that central bank gold demand will continue to provide solid support for the gold market.
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Good point. But it doesn't matter. They got it back. "If you don't hold it... somebody else will own it."“Libya bought 30 tonnes of gold in June”
Bought or bought back?
China added to its gold reserves for a 10th straight month, extending a push to bolster its hefty stockpile as it tries to diversify away from the US dollar.
Bullion held by the People's Bank of China rose by 930,000 troy ounces in August, the central bank said on Thursday. That's equivalent to about 29 tons. Total reserves now sit at 2,165 tons, with around 217 tons added in a run of purchases that began in November.
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