Central Bank

There has been a recent change for the better in central bank attitudes to gold . . . .

MUMBAI: The Reserve Bank of India (RBI) has bought gold for the first time in nearly a decade, signaling that the metal could be in demand as a store of value when returns and capital values of fixed-income bonds are declining in a rising rate environment . . . .

The Ducks Are Lining Up! . . . .

A lot of people dismiss gold and precious metals as irrelevant to the world monetary system. But how can money be irrelevant? . . . .

After Venezuela, Germany, Austria and the Netherlands prudently repatriated a substantial portion (if not all) of their physical gold held at the NY Fed or other western central banks in recent years, one month ago Turkey announced that it too has decided to repatriate its gold stored in the US Federal Reserve and deliver it to the Istanbul Stock Exchange . . . .

The combined purchases by Russia, Turkey and Kazakhstan accounted for nearly 50% of the overall net gold purchases . . . .

Turkish gold imports surged due to a sharp increase in investment demand as well as renewed Central bank purchases . . . .

The switch from Central bank gold sales to purchases had a big impact on the gold market. Precious metals investors fail to realize that Central banks sold a staggering amount of gold . . . .

Germany has the world’s second-largest gold reserves, but since the Cold War, no one has seen it on German soil. Until this weekend, when the country’s central bank, Bundesbank, put eight bars on display at its Money Museum . . . .

Hungary latest country to repatriate gold . . . .