from the WGC, published after the Q3 2022 report, show that during the month of October, central banks worldwide obtained 31 tons of gold. The central bank of the United Arab Emirates bought the most gold in October, adding another 9 tons of gold to the country’s stash.
WGC data indicates that the UAE acquired 18 tons of gold throughout 2022. Presently, the aggregate quantity of gold acquired by central banks worldwide is at the highest level in 47 years, or since 1974. Metrics show that Uzbekistan stacked another 9 tons of gold to its reserves after buying the precious metal for seven straight months in a row. Uzbekistan has purchased 37 tons of gold this year and gold represents 60% of the country’s total reserves.
Data also shows that the National Bank of Cambodia managed to purchase two tons of gold in September, and Kazakhstan acquired three tons of the yellow precious metal in October. Central banks acquire the precious metal gold in order to diversify their foreign reserves. In essence, it is believed that the precious metal can reduce the overall risk of their reserves because gold has been considered a safe haven asset for thousands of years.
The world’s central banks traditionally obtain gold from large commercial banks or directly from gold mining companies. Gold has been performing well during the last two weeks, and on Wednesday, an ounce is currently trading for $1,778 per unit. Since Nov. 3, 2022, gold has increased 9.15% against the U.S. dollar, from $1,629 per ounce to the current $1,778 per ounce value on Wednesday, Dec. 7, 2022.
Gold real currency 💪🙏🌞👍
我觉得Bitcoin这个数字黄金在未来会取代金属黄金
investors buying gold is high because of the recession. This is very common and I'm not surprised.
Ofc all becaus imaginary fiat money keep failing
If I had a small one, I would invest in metagalaxyland 🚀🖤
Rome was never build a day, but it was finally built, this gives us the hope that ElectraProtocol $xep🧿 will be greater very soon
shame there isnt any onchain data to back it up...
Iran is in a revolutionary situation, the government has already killed many men and women and sexually assaulted women prisoners, we need international assistance. MahsaAmini ArmitaAbbasi