Gold buys owe much to central bank buying

Bloomberg/Liam Denning/1-20-2023

“The collapse of Sam Bankman-Fried’s FTX platform, along with his arrest, offered a tragicomic rebuke to those touting the blockchain as a serious challenger to gold (and the dollar and just about everything else). In contrast to crypto’s digital vapor, gold will inarguably hurt you if dropped on your foot.”

USAGOLD note: Bloomberg commodity columnist Liam Denning weighs in on what’s going on in the gold market…… Central bank buying is certainly a factor, but what are the reasons for that buying?