Central banks stockpiling gold

Repost from 8-16-2021

graphic image of a gold anchor, as in anchoring the overall portfolio
The Reserve Bank of India purchases a record amount of gold

Brazil almost doubles its gold reserves in 3 months

USAGOLD note: The Reserve Bank of India purchased a record 29 tonnes of gold in June and almost 150 tonnes over the past year. The Central Bank of Brazil purchased 62.3 tonnes between May and July. The World Gold Council reports central banks buying 333 metric tonnes of gold in the first half of the year. “Central banks,” it says, “are likely to continue buying gold on a net basis in 2021 at a similar or higher rate than in 2020, driven by a continued focus on diversification and risk management.”

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