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MacroVoices #378 Ronnie Stoeferle: In Gold We Trust - Showdown

Macro Voices

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The Rise of Central Bank Gold Demand

I think it's just a process. It's a process that has heated up over the last couple of months and definitely the sanctions against the Russians. They wear an important catalyst because if the Western world, basically with the stroke of a pen can say, well, your currency reserves are worthless, then you're probably going to change your playbook. And I think gold plays a vital role in that. In 2022, we saw a new all time high when it comes to central bank gold demand. China and Russia have announced again that they continue to buy gold. There are I think 17 nations now wanting to join the bricks. So therefore, I think this game is really picking up momentum.

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