Top 5 Gold Buyers’ Motives Revealed

Which of these central banks have set records this year?

1. China
2. India
3. Turkey
4. Iran 

This is actually a trick question as the answer is all of them. That’s right they have all been part of an enormous central bank push to move away from the US Dollar and add more gold to their respective coffers. 

The not-so-surprising ‘surprise’ on that list is China, who just last week revealed themselves to be the big gold buyer so many have been wondering about, for the last few months. 

It’s long been known that China is making moves away from the dollar, but this news combined with record purchases from other central banks suggests that there is change afoot. 

Join Dave Russell as he discusses central bank gold purchases, and the motives behind them. 

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GOLD PRICES (USD, GBP & EUR – AM/ PM LBMA Fix)

12-12-2022    1790.60    1786.60    1458.80    1455.90    1696.41    1692.09
09-12-2022    1793.00    1796.15    1464.34    1463.32    1698.51    1704.55
08-12-2022    1782.45    1790.15    1464.82    1464.16    1698.32    1699.03
07-12-2022    1771.85    1782.20    1458.06    1460.33    1689.28    1694.16
06-12-2022    1773.35    1773.80    1456.28    1455.76    1687.87    1688.83
05-12-2022    1794.35    1776.80    1465.09    1456.27    1705.17    1689.91
02-12-2022    1800.75    1784.75    1467.97    1460.64    1710.71    1703.72
01-12-2022    1779.60    1803.15    1465.32    1467.22    1704.32    1712.63
30-11-2022    1759.65    1753.50    1465.08    1462.77    1697.53    1689.67
29-11-2022    1755.35    1752.70    1460.63    1462.98    1691.63    1693.81

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