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Central Banks Are Rushing Into Gold: 400 Tons in Q3 2022 for $20B. And Soon Bitcoin?

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Central Banks Are Rushing Into Gold: 400 Tons in Q3 2022 for $20B. And Soon Bitcoin?

In the new world that is coming, gold will regain its place, which will ultimately benefit Bitcoin.

Sylvain Saurel
Nov 11, 2022
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Central Banks Are Rushing Into Gold: 400 Tons in Q3 2022 for $20B. And Soon Bitcoin?

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The latest report from the World Gold Council (WGC), the Bitcoin Mining Council's counterpart for gold, was just released. This report shows a 28% increase in global gold demand in Q3 2022 compared to Q3 2021.

Where things get interesting is that central banks alone bought 400 tons of gold, or about $20 billion worth. Since the beginning of 2022, central banks have purchased 673 tons of gold, a figure not seen since 1967!

Among the big buyers of gold are the central banks of Turkey, Uzbekistan, Qatar, and India.

The question this raises is clear: why are central banks flocking to gold?

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© 2023 Sylvain Saurel
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