Submitted by cpowell on 07:57PM ET Wednesday, April 24, 2019.
Section: Daily Dispatches
World's Central Banks Want More Gold
By Ranjeetha Pakiam and Swansy Afonso
Bloomberg News
Wednesday, April 24, 2019
India's central bank is likely to join counterparts in Russia and China scooping up gold this year, adding to its record holdings and lending support to worldwide bullion demand as top economies diversify their reserves.
The Reserve Bank of India's purchases are part of a wider picture across developing economies that are looking at de-dollarizing their foreign-exchange reserves, according to Ross Strachan at Capital Economics Ltd. The RBI's buying trend can be sustained for a number of years in relatively small quantities, as part of a long-term diversification, he said.
The RBI may purchase 1.5 million ounces in 2019, or about 46.7 tons, according to Howie Lee, an economist at Oversea-Chinese Banking Corp., with an outlook based on extrapolating amounts bought in the first two months of this year. ...
... For the remainder of the report:
https://www.bloomberg.com/news/articles/2019-04-23/central-bank-gold-buying-gets-boost-as-india-s-reserves-to-swell
* * *
The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
Kirkland Lake Gold @KirklandLakeGld -
Apr 11
Didn’t get a chance to attend the European Gold Forum?
We got you covered! See our latest investor presentation here:
https://bit.ly/2uXLJtt
The webcast is up! Watch as CEO Tony Makuch took the stage last week
at the European Gold Forum to present to a room of investors.
Click here to view -
http://www.denvergold.org/company-webcast/egf19/76/
God Bless America
Ps.
opinion appreciated
TIA
North Bay Resources Commences Operations at Bishop Gold Mill, Inyo County, California; Engages Sabean Group Management Consulting • NBRI • Sep 25, 2024 9:15 AM
CEO David B. Dorwart Anticipates a Bright Future at Good Gaming Inc. Through His Most Recent Shareholder Update • GMER • Sep 25, 2024 8:30 AM
Cannabix Technologies and Omega Laboratories Inc. Advance Marijuana Breathalyzer Technology - Dr. Bruce Goldberger to Present at Society of Forensic Toxicologists Conference • BLOZF • Sep 24, 2024 8:50 AM
Integrated Ventures, Inc Announces Strategic Partnership For GLP-1 (Semaglutide) Procurement Through MedWell USA, LLC. • INTV • Sep 24, 2024 8:45 AM
Avant Technologies Accelerates Creation of AI-Powered Platform to Revolutionize Patient Care • AVAI • Sep 24, 2024 8:00 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM