Lombardi Letter/Moe Zulfiqar/11-14-2022
“It’s unlikely you’ll hear about central banks buying gold in your evening news or throughout the day in the mainstream financial press. It’s not the hot thing to talk about. Here’s the reality, though: central banks have been net buyers of the yellow precious metal since 2010. They don’t care about where gold prices stand; they buy the metal regardless.”
USAGOLD note: Zulfiqar believes that central bank demand “could be a big catalyst that sends gold prices toward $3,000 per ounce much sooner than previously expected.” Through the third quarter, central banks have already purchased more gold than in any full year since 1967, according to the World Gold Council.
