LONDON, Nov 1 (Reuters) - Central banks bought a record 399 tonnes of gold worth around $20 billion in the third quarter of 2022, helping to lift global demand for the metal, the World Gold Council (WGC) said on Tuesday

Demand for gold was also strong from jewelers and buyers of gold bars and coins, the WGC said in its latest quarterly report, but exchange traded funds (ETFs) storing bullion for investors shrank.

Gold is typically seen as a safe asset for times of uncertainty or turmoil, but many financial investors sold shares in gold-backed ETFs as interest rates rose and pushed up returns on other assets.

Reuters

Wow! That 399 metric tons record inflow

is equivalent to what they would

normally purchase over the course of a full year!

That is an odd circumstance.

Bullion stockpiling in the vault of the central bank has long been a potent indicator to investors that a government will be a responsible and dependable borrower.

One significant advantage of gold bullion over bonds is that you are not forced to deal with an unstable counterparty. At one point, US government debt was the most difficult currency and a really risk-free investment.

It makes sense to armor yourself in metal

in a world where nobody can be trusted.

😍#ilikeitalot!😍

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Do your own research!

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