Central Banks Keep Buying Gold

Central banks around the world have shown a significant increase in their demand for gold, with 2022 witnessing the highest annual gold purchases since record-keeping began in 1950. [Outsider Club Header] May 24, 2023 by Luke Burgess for the Outsider Club Central Banks Keep Buying Gold Central banks around the world have shown a significant increase in their demand for gold, with 2022 witnessing the highest annual gold purchases since record-keeping began in 1950. According to the World Gold Council, central banks bought a staggering 1,078 tonnes of gold last year, more than double the 450 tonnes purchased in 2021. Official sector institutions remained eager buyers, adding 228 tonnes in Q1 2023. While this figure is lower than the preceding two quarters, it nevertheless marks the strongest first quarter on record. [vdf]Source: World Gold Council This remarkable growth in central bank gold buying becomes even more impressive when considering the record-breaking pace of demand observed in the previous year. The rolling four-quarter total surged to 1,224 tonnes in Q1, primarily driven by substantial purchases in recent quarters. [QUIZ] 46 BILLION Barrels of Oil?! A massive $5.9 trillion oil boom is about to take place. Three tiny companies just acquired the rights to mine an untapped patch holding 46 billion barrels of oil in a mystery location... And it even has the potential to reach $9 trillion in value if prices reach $200 per barrel! So which country do you think will lead this upcoming oil surge? - Venezuela - Saudi Arabia - Canada - Russia Think you know the answer? [See if you’re right!]( The World Gold Council identifies four central banks as major contributors to the reported purchasing during the first quarter. Among them, the Monetary Authority of Singapore (MAS) emerged as the largest single buyer, increasing its gold reserves by 69 tonnes. This marked the first increase since June 2021 and highlights that gold buying in Q1 was not limited to emerging-market central banks. The MAS now holds a total of 222 tonnes in gold reserves, reflecting a 45% increase from the end of 2022. Another notable buyer was the People's Bank of China (PBOC), which reported a 58-tonne increase in its gold reserves. Since recommencing reports of purchases in November 2022, the PBOC has added a total of 120 tonnes to its gold reserves, raising them to 2,068 tonnes, equivalent to 4% of the reported gold reserves worldwide. During Q1, the Central Bank of the Russian Federation provided a significant update by resuming the reporting of its gold reserves. The data for this period reveals that Russia's official gold reserves declined slightly to reach 2,327 tonnes, representing 25% of its total reserves. The robust nature of central bank gold buying shows no signs of changing in the short term. Experts maintain the belief that purchases will continue to outweigh sales as we move into Q2 and beyond. This Pill Will “Define the Next Decade” A new medical breakthrough smaller than the size of your pinkie is about to reshape human history. Because believe it or not, this tiny pill can eradicate every single sign and symptom of aging and disease... Which leaves you looking and feeling forever young. Don’t believe it? [Check out this proof...]( Central bank purchases represent a substantial increase in demand for gold. According to the WGC, approximately 21% of all gold demand in the first quarter of 2023 came from central banks. Central banks are powerful and influential institutions with the ability to buy significant quantities of gold. When they enter the market as buyers, it adds to the overall demand for gold. Increased demand, all else being equal, tends to push prices higher. Central bank buying has a psychological impact on market participants. It signals confidence in gold as a store of value and can influence the perception of gold's worth. When central banks (which are known for their financial acumen) buy gold, it can create positive sentiment among investors and lead to increased interest in gold as an investment asset. This can further drive up prices. It's important to note that while central bank buying can influence gold prices, it is not the sole determinant. Gold prices are influenced by a wide range of factors, including economic conditions, geopolitical events, inflation expectations, investor sentiment, and market speculation. However, central bank buying is a significant factor that contributes to the overall supply-and-demand dynamics in the gold market, impacting prices in the process. Until next time, [Luke Burgess Signature] Luke Burgess Multimillionaire Hedge Fund Manager Warns That the Fed Could FREEZE All U.S. Bank Accounts Hugh Hendry, a multimillionaire hedge fund manager, is sounding a major alarm about our banking system. He’s hinting that we could see something similar to what happened during the Great Depression in the 1930s when the government seized all the gold. Simply put, the government seized all gold bullion and coins, forcing citizens to sell well below the market rate. This in turn allowed the government to print more money to stimulate the economy. You see, people are currently panicking and pulling out their money at such an alarming rate... That the U.S. government could easily put a lockdown on bank deposits. Imagine waking up one day and being unable to access your own cash... It's that serious — and if you’re not prepared, this could very well become your reality. And we're merely at the tip of the iceberg when it comes to the global banking crisis... [Because the situation could easily worsen with the Fed's upcoming launch of FedNow.]( It's a new payment system that could control access to our bank accounts. It will even have the power to bar you from accessing your own money! Your hard-earned savings, retirement nest egg, and essentially everything you've worked for... Could vanish in an instant. If you have money in the bank, in retirement accounts, or especially in the stock market... It's time you sit up and take action before it’s GONE. I’ll show you three strategies to safeguard your wealth and freedom, but [you only have until July 27 to protect it all.]( Follow the Outsiders [Twitter]( | [Facebook]( | [LinkedIn]( | [YouTube]( This email was sent to {EMAIL}. You can manage your subscription and get our privacy policy [here](. Outsider Club, Copyright © Outsider Club LLC, 3 E Read Street Baltimore, MD 21202. Please note: It is not our intention to send email to anyone who doesn't want it. If you're not sure why you're getting this e-letter, or no longer wish to receive it, get more info [here]( including our privacy policy and information on how to manage your subscription. If you are interested in our other publications, please call our customer service team at [1-855-496-0830](tel:/18554960830).