Central banks are ramping up their gold buying as they seek to diversify their reserves away from the dollar and other beleaguered currencies.
If I remember right, a few years ago, the central banks were dumping their gold onto the market. In march 2009, gold hit 1016oz. By the following november, I think it was back to 677ish oz. Did it drop when they all dumped their gold??? Now that it's 1650oz., their buying it back???
Buy low, sell High. You'd think bankers would know better. Unless... 1650oz. is the future new low. Something to consider as the world currently questions the future of the dollar. As far as I know, all of our stock, bond, and bank account holdings are in dollars. The world asks America... "What's in your wallet?" It's a very good question.