Central Banks Buy More Gold In 2018 Than Any Year Since 1967

– Central banks buy gold in largest buying spree in a half century
– 2nd largest year of gold purchases by banks on record – WGC
– Central banks bought more gold bullion last year than anytime since 1967, prior to the U.S. ending the gold standard in 1971
– Governments added 651.5 tonnes (metric) of gold to their foreign exchange reserves in 2018, a 74 percent increase from the previous year
– Surge in gold purchases by central banks and strong demand for gold coins and bars in Europe and Iran helped push global demand for gold up 4 percent last year

Source: World Gold Council


The Queen inspects a gold vault at the Bank of England

 

Source: World Gold Council

Central Banks Are on the Biggest Gold-Buying Spree in a Half Century (Bloomberg)

Central Banks Bought More Gold in 2018 Than Any Year Since 1967: WGC (Reuters)

Gold Demand Trends Full year and Q4 2018 (Full Report from World Gold Council here)

 

News and Commentary

Gold hits 9-month peak on Fed rate freeze; eyes monthly gain (Reuters.com)

Central banks bought more gold in 2018 than any year since 1967 (651.5 tonnes – 74 % more than in 2017) (Reuters.com)

Exclusive: Venezuela prepares to fly tonnes of central bank gold to UAE – source (Reuters.com)

Fed pause sets stocks for best January on record, yields fall (Reuters.com)

Gold prices settle higher, up a 4th month in a row (MarketWatch.com)


Source: Bloomberg

Gold Demand Trends Full year and Q4 2018 (WGC) (Gold.org)

Central Banks Are on the Biggest Gold-Buying Spree in a Half Century (Bloomberg.com)

How India Elections Could Mean a Surge in Gold Buying (Bloomberg.com)

Silver Shortage Promises to Boost Price in 2019 (Bloomberg.com)

Italy Officially Slides Into Recession After Budget Battle With Brussels (ZeroHedge.com)

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Gold Prices (LBMA PM)

31 Jan: USD 1,322.50, GBP 1006.95 & EUR 1,152.16 per ounce
30 Jan: USD 1,312.95, GBP 1002.04 & EUR 1,148.44 per ounce
29 Jan: USD 1,308.35, GBP 994.48 & EUR 1,143.24 per ounce
28 Jan: USD 1,301.00, GBP 987.98 & EUR 1,139.81 per ounce
25 Jan: USD 1,282.95, GBP 981.33 & EUR 1,132.08 per ounce
24 Jan: USD 1,279.75, GBP 981.70 & EUR 1,128.36 per ounce
23 Jan: USD 1,284.90, GBP 990.14 & EUR 1,131.74 per ounce

Silver Prices (LBMA)

31 Jan: USD 16.07, GBP 12.24 & EUR 13.99 per ounce
30 Jan: USD 15.91, GBP 12.15 & EUR 13.92 per ounce
29 Jan: USD 15.85, GBP 12.05 & EUR 13.87 per ounce
28 Jan: USD 15.68, GBP 11.93 & EUR 13.75 per ounce
25 Jan: USD 15.37, GBP 11.74 & EUR 13.55 per ounce
24 Jan: USD 15.30, GBP 11.75 & EUR 13.48 per ounce
23 Jan: USD 15.38, GBP 11.80 & EUR 13.54 per ounce

Recent Market Updates

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Mark O'Byrne

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