RE:RE:What a hole!!!!! Central banks are stocking up.
Three economists—Serkan Arslanalp and Chima Simpson-Bell at the International Monetary Fund, and Barry Eichengreen at UC Berkeley—have published a new report pointing out that gold, far from being on the way out as an international reserve currency, has been coming back in.
“Central bank gold holdings have risen since the Global Financial Crisis (of 2008-9),” they write. Central banks have been stockpiling bullion over the past 15 years, more than making up for the net sales of the previous decade. Central banks worldwide bought more gold in the third quarter of 2022 than in any other quarter in 55 years, they report.
No, really. Fifty-five years.