A central banker’s guide to gold as a reserve asset
“In 2018, central banks bought more gold than at any time under the existing international monetary system. The vast majority of demand has come from emerging and developing country central banks. 19 individual central banks bought more than one tonne of gold in 2018, giving rise to total purchases of 651 tonnes. Even the European Union re-emerged as a net buyer, due to substantial purchases from Poland and Hungary.”
USAGOLD note: A recap of the year thus far with respect to central bank buying, this report concludes that “[g]old is the only reserve asset that is free from political and counterpary risk. Has that notion become too true to ignore?
Chart courtesy of the World Gold Council