Central Bank Gold Buying Is “Sustainable and Indeed May Accelerate”

Summary:
◆ Why central banks including China and Russia will keep buying gold due to concerns about the outlook for currencies, including the dollar and the euro, Mark O’Byrne, Research Director of GoldCore told Marketwatch ◆ While the gold tonnage demand from central banks in recent months has been significant and near records, gold remains a tiny fraction of most central banks’ massive foreign-exchange reserves,” O’Byrne says, adding that the trend is “sustainable and indeed may accelerate” ◆ “Price is not the determining factor in central bank buying—rather, the banks are more likely being guided to secure an allocation of a percentage of their overall foreign-exchange reserves in gold bullion,” says O’Byrne. The central bank diversification and hedging are likely to

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