Email of the day on central bank activity in the gold market
Comment of the Day

June 14 2022

Commentary by Eoin Treacy

Email of the day on central bank activity in the gold market

Do you think there is much Central bank activity in the gold market? I can see countries like Turkey and Russia (?) selling to meet current requirements and on the other side countries ideologically opposed to the US wanting reserves which cannot be sanctioned. I guess data is kept secret but.....

Eoin Treacy's view

Thank you for this question which I suspect will be of interest to the Collective. Russia miscalculated how strong Europe's response would be to the invasion of Ukraine, so it does not have access to nearly as much of its reserves as it might like.

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