You are here
Ronan Manly: Trends and developments in central bank gold buying
By Ronan Manly
Bullion Star, Singapore
Thursday, May 30, 2024
As we approach mid-year 2024 in the environment of an all-time high U.S. dollar gold price, it's notable that central bank gold buying continues to be one of the themes dominating gold market discussion.
This is because following a record year in 2022, when according to the World Gold Council central banks and official financial institutions purchased a massive 1082 tonnes of gold for their monetary gold reserves, 2023 was nearly as impressive, with central banks as a group buying a net 1,037 gonnes of gold, just shy of the 2022 total.
Given that total gold mining production was 3,625 tonnes in 2022 and 3,644 tonnes in 2023, it can be seen that central banks are now responsible for buying the equivalent of 28–30% of all newly mined gold. ...
... For the remainder of the analysis:
... ADVERTISEMENT ...
USA Gold: Coins and Bullion Since 1973
USAGold, well known for its internet site, USAGold.com, offers contemporary bullion coins and bullion-related historic gold coins for delivery to private investors in the United States, Europe, Canada, Australia, and New Zealand. It is one of the oldest and most respected names in the gold industry, with thousands of clients and an approach to investment that emphasizes guidance and individual needs over high-pressure sales tactics. The firm's zero-complaint record at the Better Business Bureau makes it an ideal match for the conservative, long-term investor looking for a reliable contact in the gold business.
Please call 1-800-869-5115x100 and ask for the trading desk, or visit:
USAGold: Great prices, quick delivery -- all the time.
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --
-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
