Central Banks Buying Gold Hits Recent Highs

The buying of gold by the world’s central bankers surged ahead in the last part of 2023.
In most years the Russian central bank has been the largest purchaser of gold. Between 2017 and 2022, the Russian central bank was by far the largest purchaser. Russia, Turkey, India and China were the largest buyers of gold, and together they accounted for almost 60% of all central bank purchases.
However, in 2023 the China central bank briefly surpassed Russia.
The economic sanctions that were imposed on Russia because of the Ukraine war caused their revenues from energy exports to decline. This made it necessary for Russia to divert resources that otherwise would have been used to buy gold.
During 2023 China assumed the role of the largest central bank purchaser of gold. Now it appears that the Russian central bank is preparing to resume its gold purchases in large amounts.
The evolution of world governments and the efforts to drift towards a unified global system is a topic of much debate and concern. The implications of such a shift, especially on the economic front, are profound. This site aims to present the Global Macro Digest's ® perspective on the matter.

The world of investing is constantly changing. World governments are attempting to move toward a new world order of big globalist government and higher taxes. This is leading to profound changes in the organization of social systems and global political power. Big government and high taxes lead to economic stagnation and greater poverty. It also leads to great volatility in the financial markets.

Investors need to adapt to these developments The Global Macro Digest ® is dedicated to delivering valuable insights into the markets to allow investors to achieve a better understanding of the global investing environment and to make better informed investment decisions.