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Central Banks Purchase Gold To Diversify From The US Dollar
goldsilverworlds.com / Gold Silver Worlds / February 12, 2015
We have previously highlighted the stability of the gold price throughout 2014. Volatility was relatively low and the price closed the year little changed from its opening level. At least, this is the story when considering gold in US dollars. For consumers outside of the US, the picture was a little different as currency fluctuations took local gold prices on a different path.
In Europe, the price rose by 14% over the course of the year as the single currency weakened versus the dollar. The robust price likely helped to sustain demand for bars and coins across the region. The most notable currency-related impact on local gold prices was in Russia. Sagging oil revenues and westernimposed sanctions led to the sharp depreciation of the rouble in the final few months of the year, prompting a sharp rise in the local gold price. The impact on gold jewellery demand was immediate. Modest increases in the local gold prices in both India and China conceal some considerable fluctuations throughout the year, although nothing on the scale of the moves seen in 2013.
The striking West to East shift in gold demand of the past two years is now being reflected in a similar period of change in global gold market infrastructure. Innovators in Turkey, India, China and South East Asia are developing gold products, services and platforms across the entire supply chain to boost market development. Consumer choice is expanding and the supply chain is becoming more efficient and more transparent.
The post Central Banks Purchase Gold To Diversify From The US Dollar appeared first on Silver For The People.
Source: http://silveristhenew.com/2015/02/15/central-banks-purchase-gold-to-diversify-from-the-us-dollar/
SOOooooo where are the central banks getting or lending the gold from?
Did they go to Walmart to the gold isle and buy some gold?
The Fed stated they do not have any, the Germans can’t get theirs back for 7 years if maybe, other countries cannot repatriate their gold sooooo where is all this gold coming from that the central banks are buying?
Helloooo, hellloo, is anybody out there?