Podcast: Exploring the link between gold and central bank digital currencies
What impact will the emergence of central bank digital currencies and cryptoassets have on the gold market? Find out in this podcast by OMFIF, featuring our Chief Market Strategist, John Reade.
Central banks flipped back to net purchases in December
Global official gold reserves increased by 14.2t in December according to data released by the IMF. Healthy purchases from Turkey and Uzbekistan lifted gross purchases during the month. This marked the tenth monthly purchases for 2021.
Central banks slide into net sales in November
Global official gold reserves fell by 21.5t in November according to data released by the IMF. A sizable sale from Uzbekistan tipped the balance in what would have otherwise been a flat month.
Central bank digital currencies and the implications for the gold market
The world appears to be poised for the next step in the evolution of money. Private cryptocurrencies have emerged as a potential new medium of exchange, although their long-term viability is yet to be proven. Central banks have also seized on the possibilities brought about by our highly digitised world with the development of central bank digital currencies, or CBDCs.
A Central Banker's Perspective: the role of gold in Uzbekistan
Quiet summer for central bank buying
Central banks bought 28.4t of gold in August, 9% less than in July. Leaving aside January’s 11.2t net sale, this is the lowest level of monthly net purchases so far this year.
A Central Banker’s Guide to Gold as a Reserve Asset - Second edition
This year marks 50 years since the end of gold’s formal link to currency. In the half-century that has passed since this milestone, the world has evolved in ways that were probably unimaginable to the political and economic leaders of that time. As the world has changed, so too has the role of gold. Whereas central banks steadily sold down their gold reserves for several decades after the end of the Bretton Woods system, they have since re-emerged as net buyers of gold for the past eleven years, with emerging market countries leading the way.
Central banks maintain interest in gold in July
Today we’ve published our latest central bank statistics which now includes data for July. Central banks added a net 30.1 tonnes (t) to global official gold reserves during the month, virtually in line (+0.3%) with net purchases in June. This continues the healthy level of interest in gold we have seen from central banks so far this year.
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