Russia, China, India and Kazakhstan Lead Central Bank Gold Buying

Central Banks are Buying Gold Again.

Central Banks bought the most gold in 2018 since 1967. The central banks of Russia and Kazakhstan have been adding gold to reserves for years. According to the World Gold Council, they were joined in 2018 by central banks that haven’t bought gold for years or even decades, including the central banks of Argentina, China, India, Iraq, Iran, Hungary, Poland, Thailand, the Philippines and Turkey.

Bloomberg recently reported that global debt has reached $244 trillion which is more than three times the size of the global economy. Given this profigacy, it is no wonder central banks are solidifying their reserves by adding gold.

Here are the top countries that are adding gold:

Russia

Gold added in 2018 – 272 tons.