Ronan Manly in Gold Eagle:
“There has been a lot of media coverage recently about the re-emergence of central bank gold buying and the overall larger quantity of gold than central banks as a group have been buying recently compared to previous years. For example, according to the World Gold Council’s Gold Demand Trends for Q3 2018, net purchases of gold by central banks in the third quarter of this year were 22% higher than Q3 2017, and the highest quarterly level since Q4 of 2015.
True, there have been a number of ‘new’ central banks announcing gold purchases recently, such as India, Poland and Hungary, central banks that had not been buying gold for a long time until now, but as the World Gold Council admits in its Q3 report, “Russia, Turkey and Kazakhstan continue to account for the lion’s share of purchases“.
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