by Summary:
The world’s central banks have acquired a record amount of gold in the third quarter of 2018 since 2015. The biggest buyer was Russia’s Central Bank, according to the World Gold Council (WGC) report. Over the past three months, global gold purchases totaled more than 148,000 tonnes, up 22% year-on-year, reports the World Gold Council. The leaders in purchases were Russia (99.2 tonnes of gold) and Turkey (18.5 tonnes).Russia’s central bank gold reserves surpassed 2,000 tonnes for the first time. Currently, Russia accounts for 17% of the world’s reserves. The value of Russian gold is estimated at more than billion. Kazakhstan, India and Poland also increased their gold reserves. Hungary increased its gold reserves tenfold in the last quarter (from 3.1 to 31.5 tonnes).… Nations
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Mike Norman considers the following as important: central banking, Gold
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The world’s central banks have acquired a record amount of gold in the third quarter of 2018 since 2015. The biggest buyer was Russia’s Central Bank, according to the World Gold Council (WGC) report. Over the past three months, global gold purchases totaled more than 148,000 tonnes, up 22% year-on-year, reports the World Gold Council. The leaders in purchases were Russia (99.2 tonnes of gold) and Turkey (18.5 tonnes).Russia’s central bank gold reserves surpassed 2,000 tonnes for the first time. Currently, Russia accounts for 17% of the world’s reserves. The value of Russian gold is estimated at more than billion. Kazakhstan, India and Poland also increased their gold reserves. Hungary increased its gold reserves tenfold in the last quarter (from 3.1 to 31.5 tonnes).… Nations
Topics:
Mike Norman considers the following as important: central banking, Gold
This could be interesting, too:
Mike Norman writes My new podcast episode is out.
Mike Norman writes My new podcast episode is out.
Mike Norman writes My new podcast episode is out.
Mike Norman writes Breaking Market Trends — Brian Romanchuk
The world’s central banks have acquired a record amount of gold in the third quarter of 2018 since 2015. The biggest buyer was Russia’s Central Bank, according to the World Gold Council (WGC) report.
Over the past three months, global gold purchases totaled more than 148,000 tonnes, up 22% year-on-year, reports the World Gold Council.
The leaders in purchases were Russia (99.2 tonnes of gold) and Turkey (18.5 tonnes).
Russia’s central bank gold reserves surpassed 2,000 tonnes for the first time. Currently, Russia accounts for 17% of the world’s reserves. The value of Russian gold is estimated at more than $78 billion.
Kazakhstan, India and Poland also increased their gold reserves. Hungary increased its gold reserves tenfold in the last quarter (from 3.1 to 31.5 tonnes).…
Nations moving out of USD, providing a strong argument that gold is money and going to gold as going to ground.
Professor Moscone explained: “Russia especially has solid reasons for dropping dollars in exchange for gold.
“As Russia is facing political sanctions from western countries in general, it may want to play it safe and bet on gold.
“Unlike currencies, gold cannot be declared ‘worthless’.”...Fort Russ News
Russia Acquires Record Tonnage Of Gold
Paul Antonopoulos
US Now Using Dollar as Weapon Against Allies
See also
Among the many legacies that US President Donald Trump received from his predecessors is a "secondary sanctions" regime that allows the US to bar malign actors from most of the global economy. Under Trump, however, this sophisticated set of tools has become a bludgeon with which to threaten allies...Russia Insider
US Now Using Dollar as Weapon Against Allies