Biggest Central Bank Gold Buying in 55 Years Overshadowed by Paper Rut

You wouldn't know it from the paper price, but Q3 of 2022 saw the largest net gold buying by central banks since 1967, one year before the London Gold Pool blew up. Don't worry though.

That doesn't mean their currencies will be stabilized, because they're still printing money a lot faster than they're buying gold. Just look at Turkey, which quintupled its gold reserves in 3 years and the Lira still died.

Meanwhile, silver is back in backwardation, and learn why the mid-tier miners are actually in a better position than the majors, because their capital expenditures are much smaller.

Arcadia Economics

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