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- C4G | 02-07-25 AM: Central Banks' Gold Rush
C4G | 02-07-25 AM: Central Banks' Gold Rush
In a move that screams "we know something you don't," central banks have been on a gold-buying spree, snapping up over 1,044 metric tons in 2024—the highest in 15 years. This brings total global demand to nearly 5,000 metric tons, a 1% uptick from the previous year. The World Gold Council attributes this gluttony to "macroeconomic uncertainty," a polite way of saying they're hedging against potential economic mayhem.
Notably, these financial behemoths are doubling down on gold even as prices flirt with record highs, recently touching $2,830 per ounce. It's almost as if they anticipate that the current political and economic circus—complete with trade tariffs and fiscal shenanigans—might not end well. For the average investor, this begs the question: Should you follow the money and add some glitter to your portfolio?
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Poll Of The Day
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Fun Fact Of The Day
The United States holds the largest gold reserve in the world, with over 8,000 metric tons stashed away. That's enough to make Scrooge McDuck jealous.