Last week the World Gold Council announced that the central banks set a quarterly record for gold buying at 399 tons during the 3rd quarter. Yet the report also mentioned that a substantial amount of gold was also bought by central banks that did not publicly report their purchases.
In addition to the natural question of why are these central banks continuing to buy gold, also leaves some questions about who could have been buying the large chunk of gold given that it was unreported.
So in today’s call, Vince Lanci of Goldfix Substack talks about the recent report, and where the gold may be going to, as well as why. He also talks about what China might be planning with all of the gold it’s been buying, as well as how the market may ultimately find out about how the gold could be used in the monetary system going forward.
Vince also comments on the recent clip of a Dutch central banker talking about how they’re not worried about insolvency because they have their gold revelation account.