Poland Buys Gold For First Time In 20 years

//Poland Buys Gold For First Time In 20 years

Poland Buys Gold For First Time In 20 years

Central Bank Gold Buying Hits Highest Level in Six Years

– Central banks have emerged as  some of the biggest buyers of gold this year as reported by the Financial Times

– Poland added to its gold reserves last month, buying more than seven tons of gold, which followed its purchase of two tons in July

– Poland’s gold buying appears to be the first purchase by a European Union member this century

– Central banks bought a total of 264 metric tons this year to reach the highest level in six years, according to analysts at Macquarie

– It suggests “gold’s appeal to central banks might be widening,” Macquarie said

via FT:

Central banks have emerged as some of the biggest buyers of gold this year, with purchases hitting their highest level in six years, according to analysts at Macquarie.

Central banks have bought a total of 264 tonnes of gold this year, “by far the most at this stage of the year of any period in the last six years,” the bank said.

While gold buying has been dominated by Russia, Turkey and Kazakhstan, Poland also bought gold for the first time since 1998, Macquarie said.

“The only unambiguously positive sector for gold at the moment is central banks,” the bank said.

Central banks may be buying gold to diversify their reserves away from the US dollar, the bank said.

“In a gold market struggling from too much supply and not enough demand, this has been a lifeline,” they said.

Poland added to its gold reserves in August buying over seven tonnes of gold, which followed its purchase of two tonnes in July, according to IMF data. If confirmed, it is the first purchase by an European Union member this century, Macquarie said.

“Taken at face value it suggests gold’s appeal to central banks might be widening,” Macquarie said.

Source: FT

 

Poland Buys Gold For First Time In 20 years Central bank gold reservesSource: Gold Industry Group

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News and Commentary

Central Bank Gold Buying Hits Highest Level in Six Years (FT.com)

Poland Buys Gold For First Time In 20 years (Gata.org)

Asia Gold-Buying picks up in China on lower prices; India discounts narrow (Reuters.com)

Gold slips as dollar firms on Fed rate hike outlook (Reuters.com)

Nikkei rises as dollar hits 11-month high against yen (MarketWatch.com)

Gold-painted Ferrari with €500,000 estimate up for grabs (IrishExaminer.com)

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I’m Favouring Equities and Gold Over Bonds (MoneyWeek.com)

We’re Just A Few Ticks Away From The Tech Bubble Stupidity (MarketWatch.com)

Rental Markets in America, from Hot to Cold (NakedCapitalism.com)

Bank of International Settlement’s Claudio Borio, Who Warned About the Crisis, Says the World Economy Is About to Get Very Sick (NakedCapitalism.com)

David Morgan – Deep State Losing & Could Turn Table Over (Youtube.com)

Where Super Rich Populations Are Growing Fastest (Statista.com)

Palladium may soon be worth more than gold (MarketWatch.com)

Gold 101: Digging for opportunity? Here’s what to know (CNBC.com)

Listen on SoundCloud , Blubrry & iTunesWatch on YouTube below

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Gold Prices (LBMA AM)

28 Sep: USD 1,183.50, GBP 906.44 & EUR 1,020.41 per ounce

27 Sep: USD 1,196.00, GBP 911.59 & EUR 1,020.91 per ounce

26 Sep: USD 1,198.80, GBP 910.49 & EUR 1,018.86 per ounce

25 Sep: USD 1,199.45, GBP 912.30 & EUR 1,019.77 per ounce

24 Sep: USD 1,198.75, GBP 913.69 & EUR 1,018.70 per ounce

21 Sep: USD 1,207.60, GBP 914.88 & EUR 1,025.25 per ounce

Silver Prices (LBMA)

28 Sep: USD 14.31, GBP 10.97 & EUR 12.35 per ounce

27 Sep: USD 14.42, GBP 10.98 & EUR 12.31 per ounce

26 Sep: USD 14.48, GBP 11.01 & EUR 12.32 per ounce

25 Sep: USD 14.29, GBP 10.86 & EUR 12.15 per ounce

24 Sep: USD 14.32, GBP 10.90 & EUR 12.17 per ounce

21 Sep: USD 14.33, GBP 10.87 & EUR 12.18 per ounce

Recent Market Updates

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– Gold Set to Soar Above $1,300 – Goldman and Bank of America

– Goldnomics Podcast: Silver Guru – David Morgan – Silver and Gold Will Protect in the Coming Currency Collapse

– This Week’s Golden Nuggets – Dalio’s Dollar Crisis, Fitt’s U.S. Government “Missing” $21 Trillion and Silver Guru’s End of Empire

– Dalio Warns Of Dollar Crisis – “History Is Doomed To Repeat Itself”

– Silver Guru Video: “The End of Empire and End of Fiat Currencies”

– Silver Is ‘Undervalued’ Relative to Stocks, Bonds, Gold – GoldCore

– We Are In “Never Never Land” Accounting As U.S. Government Is “Missing” $21 Trillion

– This Week’s Golden Nuggets – BOE Warns Of UK House Price Crash

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By |2018-10-01T22:15:59+00:00October 1st, 2018|Blog|Comments Off on Poland Buys Gold For First Time In 20 years

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