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Tishwash: Global central banks are taking care of gold to avoid risk
Central banks and the international monetary institutions have been quick to acquire more gold as risks to the international economy increase, the continuing trade war between Washington and Beijing, and the IMF's warnings about a decline in global growth.
World Gold Council data released this week showed that central banks, especially emerging markets, bought the yellow metal last February at the highest pace since October 2018.
According to the data, central banks increased their holdings of gold by about 90 tons during the first two months of 2019, up from 56 tons in the same period of 2018. Net purchases of gold by central banks in February reached 51 tons, Metal in the current year so far to 90 tons.
Nine central banks managed to significantly increase their gold reserves in February, compared to 10 banks in January. Despite strong changes in gold purchases by countries, the list of the top 10 countries in the world's gold reserves remains the same.
According to the buyers' map, Russia, China, Qatar and Kazakhstan were the top buyers of yellow metal. Russia bought 31.2 tons of gold in February after boosting its reserves by 6.2 tons in January. Russia increased its gold reserves in March by just over 30 tonnes to a total of about 19 percent of its cash reserves, which had previously set a target of over 500 billion dollars.
According to the World Gold Council, Russia's gold reserves stood at 2150.5 tons in March, ranking sixth in the world after America, Germany, the International Monetary Fund, Italy and France.
Data released two days ago by the Russian Central Bank showed total reserves of $ 487.8 billion at the beginning of April, the highest level since March 2014.
Rising oil prices helped boost Russia's cash reserves, which seek to hoist the precious metal away from the dollar. According to observers, Moscow is afraid of new US sanctions affecting its cash reserves abroad, so it rushed to acquire gold.
After Moscow, China is buying 10 tons of gold to add to its reserves by the end of February, down from a 11.8-ton January purchase.
Kazakhstan increased its purchases of gold by about 3 tons in February, after buying 2.8 tons in the previous month.
Qatar, the Arab country, bought the most precious metal by the end of February by buying 3.1 tons after buying 6.3 tons in January. link
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X22 Report: Published on Apr 12, 2019
Samson: Central banks buy 90 tons of gold in two months
9th April, 2019
Central banks' appetite for strong gold reserves remains strong this year as the White Bear continues to make the most buying list
According to World Gold Council data this week, central banks, especially in emerging markets, bought the yellow metal in February at the highest pace since October 2018
Net purchases of gold by central banks in February reached 51 tons, with net purchases for the year so far reaching 90 tons
Nine central banks were able to achieve a significant increase in the size of their reserves of gold in February compared to 10 banks in January
The Council of Gold explained that Russia, China, Qatar and Kazakhstan were the highest purchase of the yellow metal in February
Most countries buy gold in February - (Source: World Gold Council)
Russia bought 31.2 tonnes of gold in February after boosting its reserves by 6.2 tonnes in January
After Moscow, China is buying 10 tons of gold in addition to its reserves by the end of February, down from the 11.8 tonnes recorded in January
Kazakhstan increased its purchases of gold by about 3 tons in February after buying 2.8 tons in the previous month
Qatar, the Arab world's biggest buyer of precious metals by the end of February, bought 3.1 tonnes after buying 6.3 tonnes in January
Despite strong changes in gold purchases by countries, the top 10 list of gold reserves as one of its global reserves remains unchanged
Central banks have about 33,871 tons of gold through their reserves, according to the World Gold Council report until April 2019
The United States holds the top of the list, with the largest reserves of gold with 8.133 thousand tons, accounting for 74.9% of its total reserves
Germany is also the second largest holder of 3.369 tons of gold, accounting for 70.6% of its global reserves
The rest of the list also did not see any changes with the IMF remaining in third place, although it is the only one in the ranking of the most dominant countries and means the exclusion of India's accession
In terms of the fourth and fifth places, Italy and France had a combined holdings of 2.451 tons and 2.436 thousand tons, respectively, or 66.9% and 61.1% of the total reserves of each country respectively
Russia (2.150 tons), China (1,874,000 tons), Switzerland (1.040 tons), Japan (765.2 tons) and the Netherlands (612.5 tons) occupy the sixth to tenth places respectively LINK
Samson: World Bank: China behind world debt rise
12th April, 2019
The world's countries have a lot of debt, and China is the main reason," said David Malpas, the new head of the World Bank, who was an adviser to the Trump campaign.
"We have to work with Beijing on China's rapid spread in some parts of the world, leaving a lot of debt. China has provided trillions of dollars to other countries, including the United States and even the United States," Malpas told CNBC. China's holdings of US bonds reached about $ 1.12 trillion, according to official data.
The president of the World Bank has previously criticized China's lending efforts in the "Belt and Road" initiative, noting that these loans leave poor countries excessive debt.
China wants to reduce lending efforts, Malpas said, noting that Beijing wants to have a better relationship with other countries and part of the world order.
Malpas criticized China's borrowing of billions of dollars from the World Bank, despite being the second largest economy in the world, and exceeded the limit for low-cost loans in 2016. He noted that World Bank loans to China are on the decline, adding that he expects this to continue over the next three years. LINK
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X22 Report: Published on Apr 12, 2019
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