For 5,000 years, gold has proven its status as the ultimate store of value. Today’s investors rush to buy the precious metal at the faintest market uncertainty. Over the past decade, global central banks have joined the gold rush.
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While gold is found throughout the world, the USA has incredibly rich reserves. Which may be why we are not actively buying gold in the international market at the moment.
Also may have to do with the fact that gold, while a store of value, may never be a currency again. Also, it's commercial value is is over shadowed by silver.
I too am surprised that China is not on the list. They have been pushing their citizens to buy gold for a number of years now.
Very interesting article.
I think in China it’s mainly citizens not regulators buying gold.
Good point. But it then begs the question, why is the Chinese government pushing the citizens. Are they planning on confiscating in the future?
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Citizens there just trust gold as a store of value. Most of them probably remember times where their currency was unstable, don’t trust the stock market and can’t afford or don’t want to put all their savings into real estate.
Surprisingly China is not in the list.
Yes, that surprised me as well. Could it be that this is a list the gold owned by the state rather than individuals?
Hi @oopart thanks for the comment. Here is an article that may throw some light on the matter. https://www.bloomberg.com/markets/fixed-income
Wow, I didn't expect 3 European countries in the top 5.
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I'm sure that USA not have this GOLD long time . They could not even pay the Germany gold immediately back...And when they was start pay back after several demands they had also problems to pay back every month this Gold. SO ARE YOU SURE THEY HAVE THIS GOLD... ??? And I also know there are those countries more who asking for GOLD back, and cannot immediately get it back.
Quite informative. Thanks
siii apesar de que venezuela no tenga tanto oro como estos paises tanbien tiene... para ser una pais pequeño tiene lo suficiente jajaja....
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@rt-international, hello! May I contact you?
Hello, @rt-international. Would you allow translation of some of your reports into Serbian language, like this one?
https://steemit.com/economy/@lighteye/prenosimo-rusija-danas-pet-zemalja-sa-najvecim-zlatnim-rezervama-na-svetu
The way China is buy gold this year, they will be the #2 player by the end of the year. Medium term target is $1700 for Gold, once price gets past $1380.
