Replies to post #294258 on ORIONS Money Stocks

[AugustaFriends]

Net Gold Purchases by Central Banks is increasing at a rapid pace

As prices have dropped and investors lost faith, central banks worldwide have been on the opposite side of the trade, gobbling up bullion at a rate of 27-metric tons a month, according to UBS gold expert Edel Tully. To be sure Russia and South Korea are among the biggest buyers, while several smaller, first-time acquirers have emerged, suggesting global central banks aren’t snubbing the yellow metal in the same way the general market seems to have done, which, in the face of it, is definitely bullish for gold. It is estimated that Central Banks purchased approximately 500 tonnes also in 2013 (not shown in the table)