Did you almost know? a fifth of all the gold mined do the central banks ever have it?
As Visual Capitalist’s Govind Bhutada details, in addition to investors and jewelry consumers, central banks are a major source of demand for gold. In fact, in 2022, central banks reached for gold at the fastest rate since 1967.
However, the record purchases of gold in 2022 are in stark contrast to the 1990s and early 2000s, when central banks were net sellers of gold. The infographic below (more info here) uses data from the World Gold Council to show 30 years of central bank demand for gold, highlighting how official attitudes towards gold have changed over the past 30 years.
This infographic doesn’t need much comment. Central banks know all too well that they are debasing the currency to record rates and preparing for an eventual implosion. If they really believe inflation is well under control, why are they buying so much gold?
If central banks are preparing for this implosion, shouldn’t you too?
See more posts about the chart of the day.
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Syndication source for the original RWR article.
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