Gold Buying by Central Banks
Today, the price of gold is $1,987.90, off by $6.40.
800 tons. – That is how much gold China’s Central banks have bought this year, up 14% from last year, according to a recent report.
gold bars
Keep in mind, that China although the largest purchaser of gold, is by far not the only country that’s been snapping up the yellow metal.
Many other central banks is also purchasing gold.
Gold Buying by Central Banks
This by countries’ desire to weaken their dependence on the US dollar as a reserve currency, after Washington weaponised the greenback in its sanctions against Russia. China has stood out as the largest purchaser of gold this year as part of a 11-month buying streak. The People’s Bank of China has reported snapping up 181 tons this year, taking gold holdings to 4 per cent of its reserves.
As for the purchase of gold, central banks and governments of various countries, including some BRICS members, often purchase gold as part of their reserve management strategies. Gold is considered a store of value and a hedge against currency fluctuations and market uncertainties. Holding gold can provide a certain level of stability to a country’s financial reserves and can serve as a safeguard in times of economic volatility.
Furthermore, some countries purchase gold to diversify their reserve assets away from traditional currencies or other assets. Gold is often seen as a safe haven asset during times of economic uncertainty and can provide a level of security and stability to a nation’s financial position.
It’s important to note that central banks and governments may have varying reasons for purchasing gold, and these decisions are often influenced by their respective economic and financial policies, as well as their long-term strategic objectives.
Gold Buying by Central Banks
Great 360 Camera– This is the one that I use not only for real estate but motorcycling & gold prospecting.
Direct from the manufacturer w/ Free shipping, special bonus accessory & even tax included.
Click camera photo below for more details and to see actual 360 video & photos taken with this amazing marvel, direct from manufacturer . . .
insta360 One X3
++++++++
#######
Visit our site to view real gold nuggets and prospecting equipment:
https://california-gold-rush-miner.us
Be sure to view our Gold nuggets for sale.
View our Natural Silver specimens, Visit our Old West Collections & Unique & Unusual page
Part of our Old West Collection ‘Silver & Gold’ -Gold nugget & Morgan silver dollar in display frame – A real super unique gift!
Also see the most expensive type of gold nuggets, the Crystalline Gold Nuggets
Crystalline gold
Subscribe to our Youtube Arizona Gold Prospecting channel
DISCLAIMER:
Some of the links in this description and in our videos may be affiliate links, and pay a small commission if you use them, but never increase the basic cost. I really appreciate the support. The content in my Youtube videos & blog posts SHALL NOT be construed as tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, prospecting or other & may be outdated or inaccurate; it is your responsibility to verify all information. I am a not financial adviser. I only express my opinions based on my experiences. Your experience may be quite different. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. You must conduct your own research. There is NO guarantee of gains or losses on any investments. My produced videos are for entertainment purposes ONLY. DO NOT make buying or selling decisions based on these videos. If you need advice, please contact a qualified CPA, attorney, insurance agent, contractor/electrician/engineer, financial advisor, or the appropriate professional for the subject you would like help with.
- Keep in mind land use and land boundaries are constantly changing, before going to a unknown location you must do extensive research not only into the current weather conditions, access and current land status. Keep In mind private property owners and mining claim owners do not take kindly to trespassers and or claim jumpers. Always follow local laws and regulations related to prospecting and land use. Regulations and restrictions are constantly changing on BLM lands, State lands, National Monuments and tribal lands. It is your responsibility to totally investigate any potential prospecting area prior to heading out. Failure to do so, could not only result in massive fines but also imprisonment and confiscation of all your equipment.
0 Comments