Why Central Banks Are Hoarding Gold at Record Rates, What’s Behind the Massive Purchases: WGC Chair

“Central banks around the world are nervous,” about the U.S. dollars they have in central bank reserves, says Randy Smallwood, president and CEO of Wheaton Precious Metals. “Gold is the constant store of value, it’s always provided that for society and it will always provide that for society,” he tells our Daniela Cambone. “A healthy apolitical alternative is gold,” and cannot be weaponized by future governments as we may be seeing today with the U.S. dollar, Smallwood continues. The ultimate goal for gold is to improve the “accessibility, transparency and trust behind it,” through digital means, he concludes.


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